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The US dollar gave back its short-covering gains after the Federal Reserve held rates steady, as markets digested the policy statement. The dollar index traded nearly flat near 93.2 after touching a rise to 93.49, and remained above its two-year lows below 92 seen earlier in the month.
A weaker dollar supports US commodity export competitiveness and tends to lift dollar-denominated grain and oilseed prices. Fed guidance keeping rates near zero for years argues for a softer dollar over time.
financialpost.comReutersSep 17, 2020After 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.
