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The Federal Reserve raised the interest rate paid on bank reserves by five basis points to 0.15% and lifted the overnight reverse repo rate to 0.05% from zero. The technical adjustments aim to keep the key overnight benchmark rate from falling too low.
These are technical money-market adjustments with little direct effect on feed commodity supply or demand, though they signal the Fed's shifting policy stance that supports the dollar.
reuters.comKaren BrettellJun 16, 2021After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% 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.
