Most Asian currencies rose on Thursday as the US dollar fell after Democrats won control of both houses of Congress. The dollar index dropped 0.3% to 101.26, while the New Zealand dollar gained 0.6% and the yen rose 0.3%.
The yuan was steady after Beijing intervened to slow its recent appreciation.
A weaker dollar and firmer Asian currencies can lower the local-currency cost of US commodity imports, which supports demand for feed grains and soybean products in the region. Lower political uncertainty also reduces risk premiums, which can ease volatility in grain and oilseed 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 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.
Not 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.