# US dollar skids to 3-1/2-month low, headed for biggest monthly drop in a year

> The dollar fell to a 3-1/2-month low and was on track for its biggest monthly drop in a year. Traders were pricing in a 33% chance of a Fed rate cut in March, rising toward 65% by a later date, as growth in the US appeared to be slowing.

- Date: 2023-11-28 · published 2023-11-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/33361-us-dollar-skids-to-3-1-2-month-low-headed-for-biggest-monthly-drop-in-a-year
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar supports US dollar-denominated commodity prices and makes US exports more competitive abroad. Expectations of looser Fed policy add to that support.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-01-26 | [Dollar falls, set for biggest monthly drop in nearly 2 years](https://feedsoft.ai/events/10400-dollar-falls-set-for-biggest-monthly-drop-in-nearly-2-years.md) | -0.0% | +1.1% |
| DXY | 2020-07-31 | [Dollar heads for biggest monthly drop in a decade as virus fuels US economy fears - Markets - Business Recorder](https://feedsoft.ai/events/52339-dollar-heads-for-biggest-monthly-drop-in-a-decade-as-virus-fuels-us-economy.md) | -0.3% | -0.6% |
| 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 | 2023-11-30 | [US dollar gains but set for worst monthly loss in a year, euro falls](https://feedsoft.ai/events/33379-us-dollar-gains-but-set-for-worst-monthly-loss-in-a-year-euro-falls.md) | +0.6% | -1.2% |
| DXY | 2019-06-20 | [Forex Market: Dovish Fed spurs dollar's biggest two-day drop in a year](https://feedsoft.ai/events/7434-forex-market-dovish-fed-spurs-dollar-s-biggest-two-day-drop-in-a-year.md) | -1.1% | -0.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-hangs-three-month-low-traders-eye-pce-data-2023-11-28/

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