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The dollar slipped on Dec 15 as investors doubted the Fed would hold rates high enough to curb inflation. The Fed had raised rates by 50 basis points, and Chair Powell signaled more hikes next year with rates peaking above 5%.
The index was last at 103.68 after a six-month low the previous session.
Doubts about the Fed's commitment to tightening weaken the dollar, which supports dollar-priced commodity exports. Expectations of more hikes keep rate-driven volatility in the commodity complex.
brecorder.comReutersDec 15, 2022After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
