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The euro reached its highest level in over two years against the dollar on August 25 after ECB President Draghi did not criticise its strength in his Jackson Hole speech. He instead said the global recovery was firming.
The dollar index fell to a one-year low after Fed Chair Yellen also avoided comment on US policy.
A weaker dollar tends to support dollar-denominated grain and oilseed prices, while a stronger euro reduces the competitiveness of euro-area exports. The move is a modest price factor for feed markets.
cnbc.comReutersAug 25, 2017After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
