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Fed Chair Powell announced at Jackson Hole that the Fed will target 2% inflation on average in a flexible framework, with greater priority on employment. The dollar initially fell before recovering as short positions were covered.
A policy shift toward tolerating higher inflation and keeping rates low over longer periods tends to weaken the dollar over time, which supports dollar-priced commodities.
exchangerates.org.ukTim ClaytonAug 28, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
