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The Federal Reserve held interest rates steady at its June meeting, as widely expected. It signaled that borrowing costs will still rise by another 50 basis points by the end of 2023.
The U.S. dollar slid after the decision but stayed off four-week lows.
Expected further Fed tightening supports the dollar, which makes dollar-denominated commodities like feed grains and oilseeds more expensive for foreign buyers and tends to pressure prices.
reuters.comGertrude Chavez-DreyfussJun 14, 2023After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
