# Greenback weakens and it could get worse after Fed signals - InvestmentNews

> The US dollar fell for a third session after the Federal Reserve said future rate hikes would depend on data, with the Bloomberg Dollar Spot Index down 0.3%. Asset managers have built record short dollar positions, and Asian emerging market currencies rallied.

- Date: 2023-07-27 · published 2023-07-27T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/35221-greenback-weakens-and-it-could-get-worse-after-fed-signals-investmentnews
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

A weakening dollar and stronger Asian currencies tend to lift dollar-priced commodities and can support import demand for feed ingredients in emerging markets.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼
- USDTHB: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |
| DXY | 2020-12-07 | [Companies fear uncertainty and weak greenback](https://feedsoft.ai/events/49894-companies-fear-uncertainty-and-weak-greenback.md) | +0.3% | -0.8% |
| DXY | 2017-07-16 | [FX Week Ahead: Is It 'End Of Days' For The Greenback? \| Investing.com UK](https://feedsoft.ai/events/70282-fx-week-ahead-is-it-end-of-days-for-the-greenback-investing-com-uk.md) | -0.6% | -0.8% |
| DXY | 2020-07-29 | [Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail](https://feedsoft.ai/events/52351-canadian-dollar-gains-as-investors-sell-greenbacks-on-downbeat-fed-the-globe.md) | +0.4% | -0.4% |
| DXY | 2023-12-13 | [Gold climbs over 1% after Fed signals end of rate hikes \| Reuters](https://feedsoft.ai/events/32470-gold-climbs-over-1-after-fed-signals-end-of-rate-hikes-reuters.md) | -1.0% | -0.7% |

## Sources

- investmentnews.com: https://www.investmentnews.com/ria-news/greenback-weakens-and-it-could-get-worse-after-fed-signals/240423

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