# AUD powers back through US$0.66 after dovish Fed policy update - OFX

> The Australian dollar rose back above US$0.66 after the Fed held rates steady on December 13 and Chair Powell signalled a dovish path, with two-year yields falling to a five-month low. Markets priced out 144 basis points of US cuts through 2024.

- Date: 2023-12-13 · published 2023-12-13T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32978-aud-powers-back-through-us-0-66-after-dovish-fed-policy-update-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker US dollar from dovish Fed signals tends to support dollar-priced commodities and firms AUD-linked exporter sentiment, shifting the price backdrop for traded feed inputs.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-11-02 | [US dollar falls broadly after the Fed hints at a slower pace of rate hikes](https://feedsoft.ai/events/38845-us-dollar-falls-broadly-after-the-fed-hints-at-a-slower-pace-of-rate-hikes.md) | -1.4% | -4.2% |
| DXY | 2023-11-30 | [US dollar falls on dovish remarks by Fed's Powell](https://feedsoft.ai/events/32901-us-dollar-falls-on-dovish-remarks-by-fed-s-powell.md) | +0.6% | -1.2% |
| DXY | 2019-06-20 | [Dovish Fed Hits The US Dollar \| ECONOMETER](https://feedsoft.ai/events/58783-dovish-fed-hits-the-us-dollar-econometer.md) | -1.1% | -0.8% |
| DXY | 2019-06-20 | [US dollar on track for biggest 2-day drop this year on dovish Fed](https://feedsoft.ai/events/58787-us-dollar-on-track-for-biggest-2-day-drop-this-year-on-dovish-fed.md) | -1.1% | -0.8% |
| DXY | 2026-05-17 | [Dollar retreats as traders focus on Iran, Fed policy](https://feedsoft.ai/events/19471-dollar-retreats-as-traders-focus-on-iran-fed-policy.md) | +0.0% | +0.0% |

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2023/12/14/aud-powers-back-through-us0-66-after-dovish-fed-policy-update/

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