
The Swiss franc was the weakest major currency this week as expectations of further rate hikes in the US and elsewhere made the low-yielding franc less attractive. USD/CHF rose more than 2% on the week to around 0.8395.
Currency moves driven by rate expectations have a limited direct effect on feed supply and demand; the main read-through is a stronger dollar, which can weigh on dollar-denominated commodity 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.