# USD: Fed minutes boost the dollar | IG International

> Fed minutes released May 22 showed officials believed price pressures would ease but that disinflation could take longer than expected, with some questioning whether rates at 5.25%-5.50% were high enough. The dollar strengthened on the release while oil and metal prices traded lower.

- Date: 2024-05-23 · published 2024-05-23T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30147-usd-fed-minutes-boost-the-dollar-ig-international
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A firmer dollar and higher-for-longer rate outlook pressure dollar-denominated commodities, and the drop in oil prices lowers energy and biofuel input costs.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-08 | [Why the US Fed's interest rate pause is a win for dollar bulls \| The National](https://feedsoft.ai/events/34010-why-the-us-fed-s-interest-rate-pause-is-a-win-for-dollar-bulls-the-national.md) | -0.6% | +1.6% |
| DXY | 2026-03-23 | [Dollar rises against dong - VnExpress International](https://feedsoft.ai/events/20471-dollar-rises-against-dong-vnexpress-international.md) | +0.5% | -1.8% |
| DXY | 2025-01-02 | [Dollar rises against dong - VnExpress International](https://feedsoft.ai/events/26841-dollar-rises-against-dong-vnexpress-international.md) | -0.2% | -0.9% |
| DXY | 2026-06-29 | [Dollar rises against dong - VnExpress International](https://feedsoft.ai/events/19123-dollar-rises-against-dong-vnexpress-international.md) | -0.0% | -0.1% |
| DXY | 2025-11-19 | [Dollar rises in the Brazilian market following international movement \| Brasil 247](https://feedsoft.ai/events/22163-dollar-rises-in-the-brazilian-market-following-international-movement-brasil-247.md) | +0.3% | -0.9% |
| WTI | 2025-11-19 | [Dollar rises in the Brazilian market following international movement \| Brasil 247](https://feedsoft.ai/events/22163-dollar-rises-in-the-brazilian-market-following-international-movement-brasil-247.md) | -5.1% | -8.5% |
| WTI | 2019-05-01 | [Canadian dollar weakens as Fed inflation view boosts greenback - The Globe and Mail](https://feedsoft.ai/events/59324-canadian-dollar-weakens-as-fed-inflation-view-boosts-greenback-the-globe-and.md) | -3.8% | -7.6% |
| WTI | 2020-08-28 | [Fed Shift Boosts U.S. Dollar, But Asian Markets Shrug](https://feedsoft.ai/events/51529-fed-shift-boosts-u-s-dollar-but-asian-markets-shrug.md) | -3.6% | -6.5% |

## Sources

- ig.com: https://www.ig.com/en/news-and-trade-ideas/fed-minutes-boost-the-dollar-240523

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