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The dollar rose to a one-week high on speculation that President Trump favored a Fed chair nominee seen as more hawkish, such as John Taylor. Two-year Treasury yields hit nine-year highs, and futures implied a 93% chance of a December Fed hike.
Expectations of faster US rate hikes strengthen the dollar and make dollar-priced commodities more expensive for foreign buyers. This is a meaningful macro driver for grain and feed export prices.
babypips.comReutersOct 17, 2017After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
