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The dollar edged lower on Thursday after reaching its highest level in about 19 months earlier in the session, following strong inflation data that drove a hawkish repricing of the Fed's rate path. Fed officials raised the possibility of a 50-basis-point hike, and Goldman Sachs now expects another hike early next year on top of one in December.
The euro traded near its lowest level since May 2025.
Expectations of further Fed hikes keep the dollar elevated, which raises the cost of dollar-priced feed commodities for importers and can weigh on US export prices. Persistent rate divergence with the euro zone adds to pressure on euro-based buyers.
kitco.comNov 12, 2026After 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.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
