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The Australian dollar hit a two-month high of about 75.57 US cents after President-elect Trump told the Wall Street Journal the strong dollar is 'killing' US companies and blamed China's currency policy. Sterling also jumped nearly 3 percent against the dollar.
A weaker dollar on Trump's comments lifts currencies that feed into dollar-denominated commodity prices and shifts relative export competitiveness for feed grains and meal from Australia and the US.
amp.smh.com.auJan 17, 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.
Not enough comparable past events yet for a historical read.
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.
