# FX Daily: Dollar bears may have jumped the gun | articles | ING THINK

> The dollar dropped sharply after a softer-than-expected US CPI reading for October, with Fed funds futures pricing in an early start to rate cuts. Analysts argued the move looked overdone and that activity data would be needed for a sustained dollar decline.

- Date: 2023-11-15 · published 2023-11-15T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/10101-fx-daily-dollar-bears-may-have-jumped-the-gun-articles-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expectations of Fed easing weaken the dollar, which can lift dollar-denominated grain and meal prices, though analysts caution the move may partly reverse.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-28 | [FX Daily: The patient Fed and the “nervous” dollar \| articles \| ING THINK](https://feedsoft.ai/events/47788-fx-daily-the-patient-fed-and-the-nervous-dollar-articles-ing-think.md) | +0.3% | -1.0% |
| DXY | 2024-01-24 | [FX Daily: Unwinding the spurious dollar rally \| articles \| ING THINK](https://feedsoft.ai/events/32330-fx-daily-unwinding-the-spurious-dollar-rally-articles-ing-think.md) | -0.4% | -0.1% |
| DXY | 2022-11-11 | [FX Daily: Too early for a broad dollar downtrend \| articles \| ING THINK](https://feedsoft.ai/events/7564-fx-daily-too-early-for-a-broad-dollar-downtrend-articles-ing-think.md) | -0.7% | -1.6% |
| DXY | 2020-04-02 | [FX: In the dollar we do not trust \| articles \| ING THINK](https://feedsoft.ai/events/53574-fx-in-the-dollar-we-do-not-trust-articles-ing-think.md) | -0.5% | -0.8% |
| DXY | 2025-04-16 | [G10 FX Talking: The medium-term dollar bear trend develops \| articles \| ING THINK](https://feedsoft.ai/events/7250-g10-fx-talking-the-medium-term-dollar-bear-trend-develops-articles-ing-think.md) | -1.1% | -0.7% |
| CORN | 2019-06-17 | [FX Talking: The beginning of the end of the dollar’s rally \| reports \| ING THINK](https://feedsoft.ai/events/9810-fx-talking-the-beginning-of-the-end-of-the-dollar-s-rally-reports-ing-think.md) | -0.8% | -0.8% |
| CORN | 2023-10-31 | [US dollar falls as markets believe Fed is done hiking rates \| Reuters](https://feedsoft.ai/events/11457-us-dollar-falls-as-markets-believe-fed-is-done-hiking-rates-reuters.md) | +1.1% | -3.7% |
| CORN | 2021-05-06 | [Commodities are buoyant but supply concerns are still a worry \| articles \| ING THINK](https://feedsoft.ai/events/7728-commodities-are-buoyant-but-supply-concerns-are-still-a-worry-articles-ing-think.md) | +0.6% | -5.8% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-dollar-bears-may-have-jumped-the-gun/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.