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The dollar strengthened against major currencies after October US CPI rose 0.4%, above the 0.3% forecast. The data and hawkish comments from Federal Reserve Governor Christopher Waller supported expectations of a rate increase next month, while the two-year Treasury yield jumped.
Dollar strength can increase the local-currency cost of imported feed ingredients for buyers outside the US.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.