# Dollar bounces off six-week low as traders prepare for Powell - Markets - Business Recorder

> The dollar rebounded from six-week lows on February 23 as investors looked ahead to Fed Chair Powell's congressional testimony on inflation. Commodity-linked currencies stayed near multi-year highs.

- Date: 2021-02-23 · published 2021-02-23T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/10598-dollar-bounces-off-six-week-low-as-traders-prepare-for-powell-markets-business
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations for Fed policy and inflation drive the dollar and bond yields, which feed through to dollar-priced commodity values.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-03-19 | [Dollar pauses as traders weigh Fed's dovish stance - Markets - Business Recorder](https://feedsoft.ai/events/48315-dollar-pauses-as-traders-weigh-fed-s-dovish-stance-markets-business-recorder.md) | +1.1% | -0.1% |
| DXY | 2023-05-12 | [Dollar keeps gains as traders bet Fed headed for a pause - Markets - Business Recorder](https://feedsoft.ai/events/36144-dollar-keeps-gains-as-traders-bet-fed-headed-for-a-pause-markets-business.md) | +0.9% | +0.3% |
| DXY | 2022-07-27 | [Dollar slightly lower after Fed hikes by 75 basis points - Markets - Business Recorder](https://feedsoft.ai/events/40681-dollar-slightly-lower-after-fed-hikes-by-75-basis-points-markets-business.md) | -0.7% | +0.2% |
| DXY | 2021-07-13 | [Australia, NZ dollars steady, benefit from weaker US dollar - Markets - Business Recorder](https://feedsoft.ai/events/46321-australia-nz-dollars-steady-benefit-from-weaker-us-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2026-08-31 | [China's yuan firms despite dollar rebound - Markets - Business Recorder](https://feedsoft.ai/events/18093-china-s-yuan-firms-despite-dollar-rebound-markets-business-recorder.md) | -0.6% | +1.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40067224

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