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The dollar fell from two-week highs after Fed Chairman Jerome Powell said the policy rate of 2-2.25% is just below the broad range of neutral estimates. That is a shift from his October remarks that rates were a long way from neutral.
Traders will look to the minutes of the Nov. 7-8 meeting for further signals.
A softer dollar tends to support dollar-priced commodities such as corn, soybeans and meal by making US exports cheaper for foreign buyers. The Fed's signal of a slower hike path also reduces pressure on the greenback.
cnbc.comReutersNov 28, 2018
thehindubusinessline.comReutersNov 29, 2018After 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.
