The Fed is extending its currency exchange program to more central banks around the world

After 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.

• Jul 29, 2020Is the US dollar losing its clout as the world's reserve currency?+0.4%
• Jul 31, 2024Currency markets: Banks get bullish on the British pound-0.5%
• Jul 30, 2020Fed extends swap lines and warns of slowing US economy - Central Banking-0.3%
• Aug 28, 2020FED Sparks Currency Rate Moves, Dollar Pares Losses, Pound-Dollar Dips From 2020 Best | Exchange Rates UK-0.5%
• Mar 6, 2024Euro is back on the scene for global central banks-0.6%

After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% over 20.

• Sep 19, 2024Brazil’s Central Bank resumes tightening as Fed moves toward easing-0.0%
• Nov 26, 2020Brazilian Real is the most undervalued EM currency - IIF - Forex Crunch-3.0%
• Jan 30, 2019In emerging markets, the peso is the best-positioned currency - The Mazatlan Post-1.3%
• Feb 17, 2023Brazil’s Central Bank Head Extends Hand to Lula, But Maintains Key Demands-0.9%
• Feb 23, 2026Central Bank expected to curb FX swaps, credit line amid steep inflows-0.9%

Not enough comparable past events yet for a historical read.