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MUFG says the US dollar has weakened modestly after the Fed's less hawkish policy update and renewed selling in AI-related US equities. It notes the 2-year Treasury yield has fallen about 40bp from its late-September high.
MUFG expects a Republican midterm defeat to weigh on the dollar but not decisively.
A softer dollar tends to support US commodity prices and the export competitiveness of US feed ingredients. The effect depends on whether the election outcome and Fed expectations move the currency.
fxstreet.comFXStreet Insights TeamNov 2, 2026After 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.
