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The New York Fed reported that the Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets in July–September 2020. The broad trade-weighted dollar fell 2.9% in the quarter, driven by unwinding safe-haven demand and optimism about the euro area.
A weaker dollar tends to support dollar-denominated commodity prices and improves export competitiveness for US feed grains, though the report itself signals no new policy shift.
newyorkfed.orgNov 12, 2020After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% 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.
