# No Rate Hike by US Fed, Rupee Surges against Dollar - AxisDirect

> The US Federal Reserve kept its benchmark rate unchanged at 1.00 to 1.25 percent, citing persistently low inflation even as the job market strengthened. The Fed still expects further gradual rate hikes, though many economists see none this year unless inflation picks up. The rupee surged against the dollar after the decision.

- Date: 2017-07-27 · published 2017-07-27T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/70276-no-rate-hike-by-us-fed-rupee-surges-against-dollar-axisdirect
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A less hawkish Fed weakens the dollar, which tends to support dollar-priced grain and oilseed markets and lowers the rupee cost of imports.

## Read by commodity

- DXY: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-07-31 | [Rupee edges higher at 74.81 against US dollar \| Kashmir Reader](https://feedsoft.ai/events/52386-rupee-edges-higher-at-74-81-against-us-dollar-kashmir-reader.md) | -0.3% | -0.6% |
| DXY | 2020-11-09 | [Ringgit surges against US dollar at close \| Malay Mail](https://feedsoft.ai/events/50409-ringgit-surges-against-us-dollar-at-close-malay-mail.md) | -0.1% | -1.7% |
| DXY | 2022-10-25 | [Pound surges against dollar after US house price shock](https://feedsoft.ai/events/39397-pound-surges-against-dollar-after-us-house-price-shock.md) | -0.3% | -3.0% |
| DXY | 2023-07-13 | [Fund Investors Bet Against US Dollar After Fed Rate Hikes, Currency Weakening - Bloomberg](https://feedsoft.ai/events/9982-fund-investors-bet-against-us-dollar-after-fed-rate-hikes-currency-weakening.md) | -0.2% | +1.6% |
| DXY | 2020-02-29 | [US dollar dives to 7-week low against yen on Fed rate cut hint \| Malay Mail](https://feedsoft.ai/events/54819-us-dollar-dives-to-7-week-low-against-yen-on-fed-rate-cut-hint-malay-mail.md) | -0.8% | +4.0% |

## Sources

- simplehai.axisdirect.in: https://simplehai.axisdirect.in/91-good-reads-nri/3842-no-rate-hike-by-us-fed-rupee-surges-against-dollar-axisdirect?tagArticle=yes&tagsCount=10

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