# Dollar Drops as Bond Yields Fall on Hopeful US Inflation Report

> The dollar index fell 0.21% after the April PCE deflator matched expectations at 2.7% year-on-year, with core PCE at 2.8%. Softer-than-expected personal spending pushed 10-year Treasury yields down 5 basis points, reviving hopes for Fed rate cuts later in 2024.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30468-dollar-drops-as-bond-yields-fall-on-hopeful-us-inflation-report
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar on expected Fed easing tends to support dollar-priced grain and oilseed exports by making them cheaper for foreign buyers.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-11-28 | [Dollar weakens as U.S. bond yields drop](https://feedsoft.ai/events/38899-dollar-weakens-as-u-s-bond-yields-drop.md) | -1.1% | -1.1% |
| DXY | 2019-06-21 | [Dollar extends losses to 2-week low as US bond yields fall](https://feedsoft.ai/events/7440-dollar-extends-losses-to-2-week-low-as-us-bond-yields-fall.md) | -0.1% | +0.1% |
| DXY | 2024-07-26 | [Dollar treads water after tame US inflation report, yen rally stalls](https://feedsoft.ai/events/29456-dollar-treads-water-after-tame-us-inflation-report-yen-rally-stalls.md) | +0.3% | -0.9% |
| DXY | 2023-07-12 | [US dollar stumbles, drops to more than one-year low as inflation eases in June](https://feedsoft.ai/events/9977-us-dollar-stumbles-drops-to-more-than-one-year-low-as-inflation-eases-in-june.md) | -1.4% | +0.8% |
| DXY | 2024-02-16 | [Dollar retreats on weak US Retail Sales, bond yields slump](https://feedsoft.ai/events/31933-dollar-retreats-on-weak-us-retail-sales-bond-yields-slump.md) | -0.1% | -0.7% |

## Sources

- barchart.com: https://www.barchart.com/story/news/26556883/dollar-drops-as-bond-yields-fall-on-hopeful-us-inflation-report

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