# The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK

> 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.

- Date: 2024-02-08 · published 2024-02-08T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31865-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-12-20 | [US Federal Reserve raises rates and trims outlook for 2019 rate increases  \| The National](https://feedsoft.ai/events/61493-us-federal-reserve-raises-rates-and-trims-outlook-for-2019-rate-increases-the.md) | -0.1% | -1.1% |
| DXY | 2022-09-06 | [Board of Governors of the Federal Reserve System](https://feedsoft.ai/events/39787-board-of-governors-of-the-federal-reserve-system.md) | -0.4% | +2.7% |
| DXY | 2025-08-30 | [Ringgit steadies as markets eye Bank Negara and US jobs data in first week of Sept \| Malay Mail](https://feedsoft.ai/events/23581-ringgit-steadies-as-markets-eye-bank-negara-and-us-jobs-data-in-first-week-of.md) | -0.1% | -0.1% |
| DXY | 2020-02-26 | [USD: Focus on the Fed - ING: Analytics and Market news from 26 February 2020 11:19](https://feedsoft.ai/events/54778-usd-focus-on-the-fed-ing-analytics-and-market-news-from-26-february-2020-11-19.md) | -0.6% | +7.0% |
| DXY | 2018-06-13 | [US Dollar on Cusp of Renewed Downtrend as Faster-Fed Fails to Inspire the Market](https://feedsoft.ai/events/64711-us-dollar-on-cusp-of-renewed-downtrend-as-faster-fed-fails-to-inspire-the-market.md) | +1.3% | +0.6% |

## Sources

- newyorkfed.org: https://www.newyorkfed.org/newsevents/news/markets/2024/20240208

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