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The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during October to December 2023, the New York Fed told Congress. The broad trade-weighted dollar fell 3.2% over the quarter, driven by signs of U.S. disinflation and a sharp decline in Treasury yields.
A weaker dollar in the fourth quarter supported dollar-priced commodities such as grains and oilseeds. The report confirms no official currency intervention, so FX moves remain market-driven.
newyorkfed.orgFeb 8, 2024After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
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.
