
The dollar extended its broad gains to a 19-month high as expectations for Fed rate hikes pushed Treasury yields higher. BBH flags robust US growth, a tight labor market and sticky inflation, with the October PPI release seen as a potential further catalyst.
Expectations of Fed hikes lift the dollar and make dollar-priced commodities more expensive for foreign buyers, which can soften demand and weigh on export-linked feed prices.
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.