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The US dollar index climbed to a two-decade high as traders awaited a Federal Reserve rate decision. Expectations grew that the Fed would raise rates by more than forecast, and the S&P 500 fell toward a bear market amid fears about the economic outlook.
A stronger dollar makes US-priced commodities more expensive for foreign buyers, which tends to pressure grain, oilseed and meal prices. Tighter Fed policy also raises financing costs for feed and livestock operations.
reuters.comSaqib AhmedJun 14, 2022After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
The dollar index hit a two-decade high on June 14 as expectations of a larger Fed hike and falling equities drove safe-haven and rate-driven demand.
