# Foreign exchange rates on September 20, 2024: USD depreciates amid massive interest rate cuts by the Fed.

> The Dollar Index closed at 100.93 on September 19, down 0.18 points, after the Fed's 50 basis point cut and a more dovish stance. The euro rose 0.4% to $1.1163, the yen weakened to 142.73, and the pound hit its highest level against the dollar since March 2022.

- Date: 2024-09-20 · published 2024-09-20T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28635-foreign-exchange-rates-on-september-20-2024-usd-depreciates-amid-massive
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A softer dollar tends to support dollar-priced grain and oilseed prices by making them cheaper for buyers using other currencies. The daily move is small, so the price effect is limited.

## Read by commodity

- DXY: bearish ▼

## Sources

- vietnam.vn: https://www.vietnam.vn/en/gia-ngoai-te-ngay-20-9-2024-usd-giam-gia-doi-dien-dot-cat-giam-lai-suat-khong-lo-cua-fed

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