# USD falls on Fed slowing inflation comments, gold and base metals boosted | IG International

> The Fed raised rates by a quarter point to 4.5%-4.75% and signaled further increases, causing the dollar to fall and gold to reach a nine-and-a-half-month high. The Bank of England and ECB were also expected to hike rates that day.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/37235-usd-falls-on-fed-slowing-inflation-comments-gold-and-base-metals-boosted-ig
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A softer dollar supports dollar-priced commodities, and synchronized global tightening can shape currency-driven export competitiveness for feed ingredients.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-05-04 | [Outlook on gold as it hits record high, while USD and oil fall after Fed decision \| IG International](https://feedsoft.ai/events/35838-outlook-on-gold-as-it-hits-record-high-while-usd-and-oil-fall-after-fed.md) | -0.5% | +0.8% |
| DXY | 2024-08-26 | [AUD/USD surges with dovish Fed and hawkish RBA stance on inflation \| IG International](https://feedsoft.ai/events/29061-aud-usd-surges-with-dovish-fed-and-hawkish-rba-stance-on-inflation-ig.md) | +0.7% | -0.0% |
| DXY | 2024-07-31 | [Gold jumps and industrial metals rally as US Fed signals upcoming interest rate cut](https://feedsoft.ai/events/29145-gold-jumps-and-industrial-metals-rally-as-us-fed-signals-upcoming-interest-rate.md) | -0.5% | -1.9% |
| DXY | 2023-11-15 | [Post-inflation dollar slump drives EUR/USD and GBP/USD while knocking back USD/CAD​ \| Levels to Watch \| IG International](https://feedsoft.ai/events/10102-post-inflation-dollar-slump-drives-eur-usd-and-gbp-usd-while-knocking-back-usd.md) | -0.9% | -0.2% |
| DXY | 2025-08-29 | [All eyes on Fed’s favourite inflation metric \| Convera](https://feedsoft.ai/events/23515-all-eyes-on-fed-s-favourite-inflation-metric-convera.md) | -0.1% | +0.1% |
| EURUSD | 2023-11-15 | [Post-inflation dollar slump drives EUR/USD and GBP/USD while knocking back USD/CAD​ \| Levels to Watch \| IG International](https://feedsoft.ai/events/10102-post-inflation-dollar-slump-drives-eur-usd-and-gbp-usd-while-knocking-back-usd.md) | +0.6% | -0.6% |
| EURUSD | 2022-12-14 | [EUR/USD Turns to the Fed & the ECB, After Tuesday’s Jump on Softer US CPI Inflation \| FXCM Markets](https://feedsoft.ai/events/38442-eur-usd-turns-to-the-fed-and-the-ecb-after-tuesday-s-jump-on-softer-us-cpi.md) | +0.0% | +1.8% |
| EURUSD | 2025-12-18 | [EUR/USD rebounds as ECB holds rates and US inflation cools](https://feedsoft.ai/events/21719-eur-usd-rebounds-as-ecb-holds-rates-and-us-inflation-cools.md) | +0.3% | -1.3% |

## Sources

- ig.com: https://www.ig.com/en/news-and-trade-ideas/early-morning-call--230202

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