Volatility in the dollar index allowed the grain markets to bounce off its lows Friday. AgriSompo North America market analyst Sterling Smith says a volatile 140-point swing in the dollar index occurred within one minute Friday. “News dropped that the Fed was going to raise interest rates by another 75 basis points and I saw instantaneous volatility that I haven’t seen since 2008. The interest rates dropped, the dollar reversed course and the S & P was looking at a pretty sizeable loss; all of that changed almost immediately after the news hit.”
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