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Emerging-market stocks gained and several currencies strengthened as the Chinese yuan rose above 6.5 per dollar for the first time since May 2016. Risk appetite improved after the US debt ceiling deal and fading prospects of a Fed rate hike, with Fed Vice Chair Stanley Fischer set to step down.
A weaker dollar and firmer Asian currencies ease financing conditions for emerging economies, which can support import demand for feed ingredients. The move is a routine currency-driven market wrap with limited direct effect on feed prices.
finance.yahoo.comReutersSep 7, 2017Not enough comparable past events yet for a historical read.
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.
A fading dollar and the US debt ceiling deal reduced Fed hike prospects, and the yuan broke above 6.5 per dollar, so USD weakness fed directly into the CNY drop in USD terms.
