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The New York Fed reported to Congress that the Federal Reserve and Treasury did not intervene in FX markets in Q1 2021. The broad trade-weighted dollar appreciated 2.3% in the quarter, driven by stimulus expectations and vaccine progress.
A strong dollar in the first quarter raised the cost of US commodity exports for foreign buyers, a backdrop that still shapes feed import demand and prices.
newyorkfed.orgMay 13, 2021After 23 past neutral report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (57% higher; middle half -0.2% to +0.4%), and +0.5% 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.
