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The dollar fell to a one-week low against a basket of currencies after Federal Reserve Chair Jerome Powell downplayed the prospect of a 75 basis point hike. Powell also said the central bank would act aggressively.
Expectations of smaller Fed hikes weaken the dollar, which can modestly support dollar-priced commodity values. The effect on feed markets is typically limited and short-lived.
reuters.comKaren BrettellMay 4, 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.
