# TREASURY SECRETARY TALKS DOWN THE DOLLAR WHICH DROPS SHARPLY -- BRITISH POUND SURGES AGAINST THE DOLLAR -- WHILE BRITISH BOND YIELD RISES TO HIGHEST LEVEL IN A YEAR -- BIG DROP IN DOLLAR PUSHES BLOOMBERG COMMODITY INDEX NEAR A TWO-YEAR HIGH

> Treasury Secretary Mnuchin said a weak dollar is good for the US economy and would help cut the trade deficit. The dollar fell about 1% to a three-year low against major currencies, and the Bloomberg Commodity Index neared a two-year high.

- Date: 2018-01-24 · published 2018-01-24T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/66895-treasury-secretary-talks-down-the-dollar-which-drops-sharply-british-pound
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Official support for a weaker dollar makes US exports cheaper, supporting dollar-priced grain and meal prices and lifting commodities broadly.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-08-23 | [Pound Rises to Strongest in Over Two Years Against the US Dollar - Bloomberg](https://feedsoft.ai/events/29067-pound-rises-to-strongest-in-over-two-years-against-the-us-dollar-bloomberg.md) | -0.1% | -0.8% |
| DXY | 2026-07-30 | [CNY USD: Yuan Rises to Highest Since Early 2023 as Dollar Drops After Fed - Bloomberg](https://feedsoft.ai/events/18568-cny-usd-yuan-rises-to-highest-since-early-2023-as-dollar-drops-after-fed.md) | -1.2% | -1.9% |
| DXY | 2023-04-13 | [Euro Surges to Strongest in a Year as Fed-Cut Bets Batter Dollar - Bloomberg](https://feedsoft.ai/events/36584-euro-surges-to-strongest-in-a-year-as-fed-cut-bets-batter-dollar-bloomberg.md) | +0.3% | -0.4% |
| DXY | 2024-11-25 | [Pound Sterling rises against USD after Trump's Treasury Secretary nomination](https://feedsoft.ai/events/27646-pound-sterling-rises-against-usd-after-trump-s-treasury-secretary-nomination.md) | -0.3% | +0.7% |
| DXY | 2017-07-20 | [Euro surges against dollar as Draghi says QE tightening talks will start in September](https://feedsoft.ai/events/70186-euro-surges-against-dollar-as-draghi-says-qe-tightening-talks-will-start-in.md) | -0.0% | +0.0% |
| CORN | 2021-02-24 | [Fed Chair Powell's Dovish Testimony Weakens Dollar Against Pound & Commodities](https://feedsoft.ai/events/48542-fed-chair-powell-and-039-s-dovish-testimony-weakens-dollar-against-pound-and.md) | +0.7% | +5.4% |
| CORN | 2018-01-26 | [Dollar falls, set for biggest monthly drop in nearly 2 years](https://feedsoft.ai/events/10400-dollar-falls-set-for-biggest-monthly-drop-in-nearly-2-years.md) | +0.3% | +1.2% |
| CORN | 2019-01-30 | [US Dollar In Sharp Sell-off Vs Euro, Pound As FED Confirms Will Be 'Patient' On Future Hikes](https://feedsoft.ai/events/61288-us-dollar-in-sharp-sell-off-vs-euro-pound-as-fed-confirms-will-be-patient-on.md) | +0.2% | -0.3% |

## Sources

- articles.stockcharts.com: https://articles.stockcharts.com/article/members-analysis-20180124-1/

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