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The euro fell to a three-month low against the dollar on Friday as a broad sell-off in stocks and European currencies pushed investors into the dollar. The dollar index rose to a three-month high after Britain voted to leave the EU.
A stronger dollar against the euro makes US feed ingredients costlier for eurozone buyers and typically pressures dollar-denominated commodity prices. Analysts expect the uncertainty to persist.
economies.comRami HaddadJun 24, 2016After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 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.
The euro sank to a three-month low as investors fled European currencies into the dollar, with the dollar index at a three-month high, directly describing the move.
