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The US dollar rose faster than expected, fueling expectations of aggressive Federal Reserve interest rate hikes. The greenback closed up 0.6% against a basket of six major currencies.
A stronger dollar on rate-hike expectations tends to weigh on dollar-denominated grain and feed prices and makes US exports more expensive for overseas buyers.
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.