# The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the First Quarter - FEDERAL RESERVE BANK of NEW YORK

> 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.

- Date: 2021-05-13 · published 2021-05-13T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/47283-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-02-10 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/42874-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -0.1% | +1.7% |
| DXY | 2019-02-14 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/60505-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -0.6% | -0.3% |
| DXY | 2025-09-27 | [As the US Dollar weakens, the British Pound rises, reversing its recent decline against it - VT Markets](https://feedsoft.ai/events/23148-as-the-us-dollar-weakens-the-british-pound-rises-reversing-its-recent-decline.md) | -0.3% | +0.3% |
| DXY | 2017-08-03 | [U.S. labour market tightening; services sector growth slowing](https://feedsoft.ai/events/69642-u-s-labour-market-tightening-services-sector-growth-slowing.md) | +0.6% | -0.3% |
| DXY | 2018-01-11 | [Account of the monetary policy meeting](https://feedsoft.ai/events/67189-account-of-the-monetary-policy-meeting.md) | -1.4% | -1.2% |

## Sources

- newyorkfed.org: https://www.newyorkfed.org/newsevents/news/markets/2021/20210513

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.