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fxAug 12, 2026, 11:18 PM

Weaker Dollar Lacks Catalyst for Broad Commodity Rally: BNY

BNY strategist Geoff Yu says a less hawkish Fed has weakened the dollar, but that has not translated into a broad commodity rally.

DXY

BNY strategist Geoff Yu says the dollar has weakened as the Federal Reserve has become less hawkish, but that depreciation has not triggered a broad rally in commodities.

According to Yu, institutional investors remain sellers of metals and miners, and emerging-market commodity sovereign debt continues to struggle.

The commentary highlights that a softer U.S. dollar is not, by itself, acting as a growth catalyst for commodity-linked assets.

Source: FXStreet Forex News