# Has the Fed plugged the US dollar leak? - MacroBusiness

> Credit Suisse analyst Damien Boey comments that the Fed cut rates by 25 basis points to 1.75-2% and cut the interest rate on excess reserves by 30 basis points. Officials signalled no further cuts this year, and three members dissented. Bonds sold off at the short end after the announcement.

- Date: 2019-09-19 · published 2019-09-19T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/57275-has-the-fed-plugged-the-us-dollar-leak-macrobusiness
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A hawkish easing reduces expectations of further dollar weakness, which can keep the dollar supported against feed-exporting currencies. The lack of further cuts also limits the boost to commodity prices from cheaper credit.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-10-31 | [Australian dollar defies the triple threat - MacroBusiness](https://feedsoft.ai/events/28126-australian-dollar-defies-the-triple-threat-macrobusiness.md) | +0.7% | +1.4% |
| DXY | 2021-03-23 | [Does the US dollar have further to fall?](https://feedsoft.ai/events/48319-does-the-us-dollar-have-further-to-fall.md) | +0.8% | -0.7% |
| DXY | 2019-10-28 | [Dollar supported before Fed meeting, Brexit delay in focus - The HinduBusinessLine](https://feedsoft.ai/events/56780-dollar-supported-before-fed-meeting-brexit-delay-in-focus-the-hindubusinessline.md) | -0.3% | +0.8% |
| DXY | 2023-05-12 | [Dollar keeps gains as traders bet Fed headed for a pause - Markets - Business Recorder](https://feedsoft.ai/events/36144-dollar-keeps-gains-as-traders-bet-fed-headed-for-a-pause-markets-business.md) | +0.9% | +0.3% |
| DXY | 2017-06-13 | [The US Dollar Tipped to Jump 2% Higher](https://feedsoft.ai/events/10202-the-us-dollar-tipped-to-jump-2-higher.md) | -0.2% | -0.7% |

## Sources

- macrobusiness.com.au: https://www.macrobusiness.com.au/2019/09/has-the-fed-plugged-the-us-dollar-leak/

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