# Dollar drops as Fed's Powell says rates near neutral

> 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.

- Date: 2018-11-28 · published 2018-11-28T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/62245-dollar-drops-as-fed-s-powell-says-rates-near-neutral
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-28 | [US Fed keeps rates unchanged as Powell says ‘not time for taper talk’; Dollar falls](https://feedsoft.ai/events/47794-us-fed-keeps-rates-unchanged-as-powell-says-not-time-for-taper-talk-dollar-falls.md) | +0.3% | -1.0% |
| DXY | 2021-02-01 | [Dollar inches lower after Fed's Powell says not hiking rates anytime soon](https://feedsoft.ai/events/49342-dollar-inches-lower-after-fed-s-powell-says-not-hiking-rates-anytime-soon.md) | +0.3% | +0.5% |
| DXY | 2023-12-13 | [Dollar drops as Fed signals coming rate cuts](https://feedsoft.ai/events/8296-dollar-drops-as-fed-signals-coming-rate-cuts.md) | -1.0% | -0.7% |
| DXY | 2021-02-11 | [Dollar slides near two-week lows as Fed pledges low rates](https://feedsoft.ai/events/48817-dollar-slides-near-two-week-lows-as-fed-pledges-low-rates.md) | +0.5% | +1.2% |
| DXY | 2023-07-10 | [US dollar drops to three-week low as Fed rate hikes nearly done](https://feedsoft.ai/events/9980-us-dollar-drops-to-three-week-low-as-fed-rate-hikes-nearly-done.md) | -1.7% | -0.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/11/28/forex-markets-dollar-the-fed-us-china-trade-in-focus.html
- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/forex/dollar-slips-as-feds-powell-says-us-rates-near-neutral/article25620482.ece

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