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The euro rose to around $1.1834 on Monday, its highest since January 2015, and booked its best monthly gain in over a year. The ICE Dollar Index fell to a 15-month low of about 92.85 and is on track for a 2.9% July drop, its fifth straight monthly decline.
Analysts attributed the dollar's weakness to both political anxiety and economic factors.
A weaker dollar typically lifts dollar-denominated commodity prices and makes US exports cheaper for foreign buyers, while raising the cost of dollar-priced imports for feed buyers in the euro zone.
marketwatch.comSara Sjolin, Anora MahmudovaJul 31, 2017After 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.
After 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.
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.
