Asian currencies mostly strengthened as the dollar index fell 0.3% to 101.26 after Democrats won majorities in both chambers of Congress. The yuan steadied after Beijing intervened to slow its appreciation.
A weaker dollar supports dollar-priced grain and oilseed demand from importers, while lower oil prices on the political outcome reduce energy and freight cost pressure on feed markets.
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.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), 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.