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The euro weakened against the dollar as ECB President Mario Draghi said the bank was ready to act and could add stimulus, and Fed Chair Janet Yellen listed risks including China, a weak jobs report and Brexit. UK polls showed the referendum was close to a tie.
Expectations of further ECB easing and a patient Fed weigh on the euro and support the dollar, which affects the cost of dollar-priced feed imports for Europe. The referendum uncertainty adds to currency volatility.
forexcrunch.comYohay ElamJun 21, 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.
