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The dollar weakened and the yen rebounded from near multi-decade lows after the Federal Reserve held rates at 5.25%-5.50% as expected. Policymakers still projected three US rate cuts this year, while their inflation forecast for 2024 rose to 2.6%.
A weaker dollar makes US feed grains, meal and oilseeds cheaper for overseas buyers, which tends to support export demand and US futures. Persistent inflation makes the timing of Fed easing, and so the path of the dollar, uncertain.
reuters.comHerbert LashMar 20, 2024After 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.
Not enough comparable past events yet for a historical read.
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.
