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The U.S. dollar fell against its rivals on June 20, 2019, heading for its biggest two-day drop in a year after the Federal Reserve signaled it could cut rates as early as July. The ECB and RBA had also signaled more stimulus, and higher-yielding currencies such as the Australian dollar and Korean won rallied.
Some hedge funds that had built large long-dollar positions before the Fed decision were forced to sell.
A weaker dollar makes dollar-priced commodities cheaper for foreign buyers, which tends to support export demand and firm prices for feed grains and oilseeds. Expectations of lower U.S. rates also reduce the cost of carrying inventory.
cnbc.comReuters20 giu 2019Dopo 1637 eventi macro ribassista passati, Dollaro USA (ampio) si è mosso in mediana di -0,2% in 5 sedute (39% in rialzo; metà centrale da -0,6% a +0,3%), e di -0,2% in 20.
Variazioni del benchmark di ciascuna materia prima rispetto all'ultima chiusura prima dell'evento. Le letture storiche raggruppano eventi passati dello stesso tipo; descrivono ciò che è accaduto, non ciò che accadrà. Non è consulenza di investimento.
Dovish Fed signal on rate cuts drove the dollar's biggest two-day drop in a year on June 20, with forced hedge fund long-dollar unwinding amplifying the move.
