Abstract： In 1944, the Agreement of the International Monetary Fund and the Articles of Agreement of the International Bank for Reconstruction and Development collectively known as the Bretton Woods Agreement were adopted by United Nations monetary and financial organizations. Since then, the Bretton Woods system has begun, and the U.S. dollar has established its dominance. The U.S. dollar occupies a dominant position in the international monetary system and has brought huge benefits to the US economy. At present, the world is affected by the Covid-19, and the economic situation of various countries is not good, and they are facing greater economic pressure. The United States is no exception. In addition to dealing with its own domestic contradictions, there is also a complicated international situation, and the hegemony of the United States has begun to shake. Therefore, in response to the current global economic situation, it is necessary to take certain measures to ease the current economic pressure and shift domestic contradictions onto others. The United States has begun to issue more dollars to stimulate exports and reduce its foreign debt burden. However, it will inevitably have an impact on commodity prices. After all, the global price is based on U.S. dollars in the process of trading. Once the U.S. dollar is over-issued, it will affect the price of commodities, but it is not the only effect. This article mainly elaborates the impact of the world economic situation and the over-issuance of the U.S. dollar on commodity prices.
Keyword： US dollar over-issuance; commodity prices; agricultural products; petroleum; metals;