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The dollar strengthened against major currencies after US consumer prices rose more than expected in October. Traders raised bets on a 25-basis-point Fed hike in December to 87%, and the dollar hit its strongest level in over two months against the yen.
A firmer dollar on rising US rate expectations can pressure dollar-denominated commodity prices and make US feed exports less competitive abroad.
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.