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New York Fed President John Williams said on June 30 that the US does not need negative interest rates for current conditions and that yield curve control supports forward guidance. He noted low take-up of emergency facilities signals markets are functioning well, and the dollar index edged lower to 97.29.
Signals that the Fed will not move to negative rates keep the dollar supported, with little direct effect on feed commodity prices.
forexcrunch.comFX StreetJun 30, 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.
