# The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK

> The New York Fed reported to Congress that the Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets in October-December 2022. The broad trade-weighted dollar fell 4.7% that quarter, with larger declines against the yen, euro and pound.

- Date: 2023-02-09 · published 2023-02-09T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/37521-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A quarter with no official intervention confirms the dollar's slide was driven by market expectations of slower Fed tightening. A weaker dollar typically supports dollar-denominated grain and oilseed prices.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-11-12 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Third Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/50328-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -0.5% | -1.7% |
| DXY | 2025-05-15 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the First Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/24857-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -0.8% | -2.0% |
| DXY | 2020-05-20 | [Full Text of U.S. Federal Reserve April Meeting Minutes \| Financial Post](https://feedsoft.ai/events/53033-full-text-of-u-s-federal-reserve-april-meeting-minutes-financial-post.md) | -0.8% | -2.2% |
| DXY | 2022-11-11 | [EURUSD’s rally extends beyond 1.0300 with the Dollar in free fall: Analytics and Market news from 11 November 2022 16:24](https://feedsoft.ai/events/8197-eurusd-s-rally-extends-beyond-1-0300-with-the-dollar-in-free-fall-analytics-and.md) | -0.7% | -1.6% |
| DXY | 2017-01-30 | [FxWirePro: Decelerated US growth threatens dollar bulls but forecasts on Federal Reserve keeps bullish rout intact, DXY oscillates in range \| EconoTimes](https://feedsoft.ai/events/73164-fxwirepro-decelerated-us-growth-threatens-dollar-bulls-but-forecasts-on-federal.md) | -1.2% | -1.2% |

## Sources

- newyorkfed.org: https://www.newyorkfed.org/newsevents/news/markets/2023/20230209

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