# Dollar down as US rate cut bets rise, yen surges

> Weaker-than-expected US jobs data, weak technology earnings and concerns over China's economy triggered a global sell-off in stocks, oil and high-yielding currencies. The dollar fell as traders increased bets on US rate cuts, and the yen surged.

- Date: 2024-08-05 · published 2024-08-05T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/7431-dollar-down-as-us-rate-cut-bets-rise-yen-surges
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Rate-cut bets that weaken the dollar generally support dollar-priced commodities such as grains and oilseeds. The sell-off in oil also lowers energy costs that feed into biofuel and freight economics.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-05-24 | [Dollar slips as weak data boosts US rate cut bets](https://feedsoft.ai/events/59248-dollar-slips-as-weak-data-boosts-us-rate-cut-bets.md) | +0.4% | -1.2% |
| DXY | 2019-08-02 | [Dollar weakens as September rate cut bets mount](https://feedsoft.ai/events/57761-dollar-weakens-as-september-rate-cut-bets-mount.md) | +0.4% | +1.7% |
| DXY | 2020-02-28 | [Forex: US Dollar's Appeal Fades As Rate Cut Looms](https://feedsoft.ai/events/54802-forex-us-dollar-s-appeal-fades-as-rate-cut-looms.md) | -0.5% | +4.3% |
| DXY | 2022-07-18 | [Dollar retreats as rate hike bets ease](https://feedsoft.ai/events/40684-dollar-retreats-as-rate-hike-bets-ease.md) | -0.8% | -2.0% |
| DXY | 2020-03-04 | [Dollar left devastated by surprise Fed rate cut](https://feedsoft.ai/events/7168-dollar-left-devastated-by-surprise-fed-rate-cut.md) | +1.2% | +5.2% |
| WTI | 2025-08-19 | [Canadian dollar falls as inflation data fuels rate cut bets — TradingView News](https://feedsoft.ai/events/23556-canadian-dollar-falls-as-inflation-data-fuels-rate-cut-bets-tradingview-news.md) | +1.4% | +1.0% |
| WTI | 2021-06-21 | [Commodity Prices Dip As Dollar Surges \| OilPrice.com](https://feedsoft.ai/events/46491-commodity-prices-dip-as-dollar-surges-oilprice-com.md) | +3.5% | -7.3% |
| WTI | 2020-10-29 | [Euro Down after ECB, Oil Tumbles, Dollar and Yen Rise - ActionForex](https://feedsoft.ai/events/50842-euro-down-after-ecb-oil-tumbles-dollar-and-yen-rise-actionforex.md) | +4.6% | +22.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/yen-rises-7-month-highs-us-slowdown-fears-carry-over-2024-08-05/

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