# Dollar Dived on New Fed Strategy, Aussie Shone ahead of a Key Week - ActionForex

> The US dollar fell sharply last week after the Federal Reserve adopted average inflation targeting at the Jackson Hole Symposium, which markets read as dovish. Commodity currencies led the selloff, and the Australian dollar was the best performer among major currencies. Japan's yen rebounded after Prime Minister Shinzo Abe announced his resignation.

- Date: 2020-08-30 · published 2020-08-30T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/51895-dollar-dived-on-new-fed-strategy-aussie-shone-ahead-of-a-key-week-actionforex
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A structural shift toward looser Fed policy tends to weaken the dollar and support US dollar-priced commodities over time. This macro shift could lift feed input costs for importers.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-11-15 | [Dollar Struggles Ahead Of Inflation Figures, Aussie Takes A Knock After Wage Data - ActionForex](https://feedsoft.ai/events/68229-dollar-struggles-ahead-of-inflation-figures-aussie-takes-a-knock-after-wage.md) | -0.5% | -0.2% |
| DXY | 2018-01-29 | [G10 FX Week Ahead: State of the dollar \| ING THINK](https://feedsoft.ai/events/67209-g10-fx-week-ahead-state-of-the-dollar-ing-think.md) | +0.4% | +1.0% |
| DXY | 2021-07-29 | [Dollar Falls Broadly after Fed, Q2 GDP Next - ActionForex](https://feedsoft.ai/events/46247-dollar-falls-broadly-after-fed-q2-gdp-next-actionforex.md) | -0.3% | +0.4% |
| DXY | 2025-01-26 | [Dollar Slumps as Risk-On Mood Prevails Under Trump’s First Week - ActionForex](https://feedsoft.ai/events/12677-dollar-slumps-as-risk-on-mood-prevails-under-trump-s-first-week-actionforex.md) | +0.8% | -0.2% |
| DXY | 2019-02-02 | [Dollar Down But Not Out after Fed, Oil Lifted Canadian, Iron Ore Boosted Australian - ActionForex](https://feedsoft.ai/events/60507-dollar-down-but-not-out-after-fed-oil-lifted-canadian-iron-ore-boosted.md) | +0.7% | +0.9% |

## Sources

- actionforex.com: https://www.actionforex.com/action-insight/market-overview/weekly-report/322681-dollar-dived-on-new-fed-strategy-aussie-shone-ahead-of-a-key-week/

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