# Fed's gloomy outlook steadies dollar slide, for now - Business & Finance - Business Recorder

> 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.

- Date: 2020-06-11 · published 2020-06-11T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/52806-fed-s-gloomy-outlook-steadies-dollar-slide-for-now-business-and-finance
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-30 | [Dollar steadies in Europe - Business & Finance - Business Recorder](https://feedsoft.ai/events/47821-dollar-steadies-in-europe-business-and-finance-business-recorder.md) | +0.1% | -0.8% |
| DXY | 2024-10-31 | [Dollar down against major currencies - Business & Finance - Business Recorder](https://feedsoft.ai/events/28051-dollar-down-against-major-currencies-business-and-finance-business-recorder.md) | +0.7% | +1.4% |
| DXY | 2020-06-09 | [Dollar wallows ahead of Fed meeting, yen resilient - Business & Finance - Business Recorder](https://feedsoft.ai/events/52852-dollar-wallows-ahead-of-fed-meeting-yen-resilient-business-and-finance-business.md) | +1.1% | +0.8% |
| DXY | 2022-05-28 | [Dollar heads for weekly drop as traders pare Fed rate hike views - Business & Finance - Business Recorder](https://feedsoft.ai/events/41616-dollar-heads-for-weekly-drop-as-traders-pare-fed-rate-hike-views-business-and.md) | +0.0% | +2.0% |
| DXY | 2022-11-24 | [Canadian dollar steadies as investors cheer Fed’s dovish signal - Markets - Business Recorder](https://feedsoft.ai/events/38909-canadian-dollar-steadies-as-investors-cheer-fed-s-dovish-signal-markets.md) | -1.4% | -1.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/1003371

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