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Speculative FX flows, not worsening economic fundamentals, drove the euro to a five-year low below $1.05, according to a BNP Paribas study. About two-thirds of the decline occurred around the daily currency fixings, and the euro was on track for its biggest monthly drop since 2015.
Dollar strength against the euro lowers the dollar cost of euro-denominated imports and can weigh on US dollar-priced feed commodities. The move looks flow-driven and thinly traded, so it may reverse more readily than a fundamentals-led trend.
reuters.comSaikat ChatterjeeApr 29, 2022Not 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.
