# Dollar falls after Powell greenlights September easing

> The dollar fell and sterling reached its highest level in more than two years on Friday after Fed Chair Jerome Powell signalled that a long-anticipated rate cut would come next month. The move reflected a clear shift in expectations toward easing.

- Date: 2024-08-23 · published 2024-08-23T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/28984-dollar-falls-after-powell-greenlights-september-easing
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower US rates tend to weaken the dollar, which can lift dollar-priced commodities and make US feed ingredients cheaper for overseas buyers. Buyers in importing countries may see better purchasing power.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-07-31 | [Dollar falls as Fed signals likely September rate cut](https://feedsoft.ai/events/29455-dollar-falls-as-fed-signals-likely-september-rate-cut.md) | -0.5% | -1.9% |
| DXY | 2022-09-30 | [Dollar gains on euro after inflation data, sterling falls](https://feedsoft.ai/events/39798-dollar-gains-on-euro-after-inflation-data-sterling-falls.md) | -0.2% | -0.3% |
| DXY | 2024-08-26 | [US Dollar Falls After Powell Rate-Cut Signal but Downside Limited: GS - Markets Insider](https://feedsoft.ai/events/28988-us-dollar-falls-after-powell-rate-cut-signal-but-downside-limited-gs-markets.md) | +0.7% | -0.0% |
| DXY | 2024-04-25 | [Dollar swoons after data suggests rate cut in September](https://feedsoft.ai/events/31001-dollar-swoons-after-data-suggests-rate-cut-in-september.md) | +0.1% | -1.1% |
| DXY | 2024-05-15 | [Dollar swoons after data suggests rate cut in September](https://feedsoft.ai/events/30426-dollar-swoons-after-data-suggests-rate-cut-in-september.md) | -0.4% | +1.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-steady-ahead-powell-speech-ueda-aims-calm-market-nerves-2024-08-23/

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