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The dollar was modestly lower on Thursday in a choppy session after Trump called for lower global interest rates without clarifying tariff plans. Investors awaited policy decisions from global central banks, and the dollar was down more than 1% on the week after tariffs failed to materialise.
Uncertainty over tariffs and rate policy keeps currency swings elevated, which feeds into export pricing for feed commodities. Lower rate expectations would weaken the dollar and support commodity prices.
reuters.comChuck MikolajczakJan 23, 2025After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
The dollar was lower on Jan 23 after Trump called for lower global interest rates and tariffs failed to materialise, adding to the weekly decline through rate-differential and sentiment effects.
