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The US dollar posted its steepest one-day loss in three weeks as doubts grew over whether the Federal Reserve would raise rates again this year, given softer inflation data. The greenback weakened against commodity-linked currencies as Brent recovered from a seven-month low.
Sterling gained after a BoE policymaker urged an immediate UK rate hike.
Expectations of fewer Fed hikes weigh on the dollar, which tends to support dollar-priced grain and meal values. The move is a routine currency swing with limited direct effect on feed supply.
singapore.timesofnews.comTimes of NewsJun 24, 2017After 1,637 past bearish macro events, DXY 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.
