# Dollar hits four-month low as weak US jobs data boosts rate cut bets

> The US dollar fell to a four-month low on Friday after a weaker-than-expected July employment report. The data increased expectations of a 50 basis point Fed rate cut in September.

- Date: 2024-08-02 · published 2024-08-02T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/9285-dollar-hits-four-month-low-as-weak-us-jobs-data-boosts-rate-cut-bets
- 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

A weaker dollar and lower-rate outlook generally supports commodity prices priced in dollars, including feed grains and oilseed products.

## Read by commodity

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

## 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 | 2024-08-19 | [Sterling hits one-month high as Fed rate cut bets weigh on dollar \| Reuters](https://feedsoft.ai/events/29068-sterling-hits-one-month-high-as-fed-rate-cut-bets-weigh-on-dollar-reuters.md) | -0.8% | -0.7% |
| 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 | 2025-11-25 | [US dollar weakens as data backs Fed rate cut view; yen watch continues](https://feedsoft.ai/events/22145-us-dollar-weakens-as-data-backs-fed-rate-cut-view-yen-watch-continues.md) | -0.6% | -1.8% |
| DXY | 2023-11-27 | [US dollar weakens as Fed rate cut view weighs](https://feedsoft.ai/events/33364-us-dollar-weakens-as-fed-rate-cut-view-weighs.md) | -0.2% | -1.0% |
| CORN | 2023-11-03 | [US dollar tumbles to six-week low after soft jobs data](https://feedsoft.ai/events/11456-us-dollar-tumbles-to-six-week-low-after-soft-jobs-data.md) | +1.0% | -1.0% |
| CORN | 2019-12-11 | [Dollar slips to 4-month low as Fed holds rates, nixes hike hopes](https://feedsoft.ai/events/55754-dollar-slips-to-4-month-low-as-fed-holds-rates-nixes-hike-hopes.md) | +5.1% | +4.1% |
| CORN | 2023-10-31 | [US dollar falls as markets believe Fed is done hiking rates \| Reuters](https://feedsoft.ai/events/11457-us-dollar-falls-as-markets-believe-fed-is-done-hiking-rates-reuters.md) | +1.1% | -3.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/safe-haven-yen-swiss-franc-soar-us-slowdown-fears-flare-2024-08-02/

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