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The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during April-June 2021, according to the New York Fed's quarterly report to Congress. The broad trade-weighted dollar fell 1.1% in the quarter, with larger declines against the Mexican peso and Canadian dollar.
With no official intervention, currency moves stemmed from rate differentials and growth expectations rather than policy action. A weaker dollar generally supports dollar-denominated grain and oilseed prices, but this report is backward-looking and offers little new price signal.
newyorkfed.orgAug 12, 2021After 139 past report events, US Dollar (Broad) moved a median -0.1% over 5 sessions (47% higher; middle half -0.5% to +0.4%), and +0.1% 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.
