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The dollar steadied against riskier currencies on June 11 after the Fed projected the US economy would shrink 6.5% this year and unemployment would reach 9.3% by year-end, while signaling rates near zero for years. The Australian dollar retreated from an 11-month high and the yen hit a one-month high as investors moved from stocks into bonds and the dollar.
Expectations of prolonged ultra-low US rates weigh on the dollar over time, which supports dollar-priced commodities, though the weak US economic outlook dampens demand expectations.
brecorder.comReutersJun 11, 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.
