Latin American currencies strengthened against the dollar on Wednesday, while the dollar fell globally after Democrats won control of the Senate and House in the US midterms. The result was seen as a rebuke of President Trump and as limiting his ability to push his economic agenda.
Analysts noted the dollar's biggest drop since August.
A weaker dollar and firmer emerging-market currencies ease import costs and dollar-debt pressure for commodity-importing countries, which can support demand for feed ingredients. Expectations that fewer Fed hikes may follow also reduce the dollar's appeal.
After 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.