# US dollar falls as markets believe Fed is done hiking rates | Reuters

> The US dollar fell against most currencies on Wednesday as investors read Federal Reserve Chair Jerome Powell's post-meeting remarks as a sign the central bank may be finished raising rates. The dollar index had earlier risen after the Fed statement and has been trading sideways since its early October high near 107.34.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/11457-us-dollar-falls-as-markets-believe-fed-is-done-hiking-rates-reuters
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of an end to Fed hikes weaken the dollar, which tends to support dollar-denominated grain and oilseed prices and improves export competitiveness for some origins.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2023-11-03 | 1 | -0.9% | -3.2 | Powell's post-FOMC tone on Nov 1 shifted sentiment toward the Fed being done hiking, setting up dollar weakness that the jobs data then amplified. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-08-19 | [Materials Up as Dollar Falls on Rate-Hike Skepticism -- Materials Roundup - MarketWatch](https://feedsoft.ai/events/17806-materials-up-as-dollar-falls-on-rate-hike-skepticism-materials-roundup.md) | +2.3% | +10.0% |
| SOY | 2018-01-25 | [Dollar falls as market fears impact of Trump's US-centric stance - Nikkei Asia](https://feedsoft.ai/events/67210-dollar-falls-as-market-fears-impact-of-trump-s-us-centric-stance-nikkei-asia.md) | +0.4% | +4.0% |
| SOY | 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) | +3.1% | +3.6% |
| SOY | 2024-08-02 | [Dollar hits four-month low as weak US jobs data boosts rate cut bets](https://feedsoft.ai/events/9285-dollar-hits-four-month-low-as-weak-us-jobs-data-boosts-rate-cut-bets.md) | -1.2% | -4.7% |
| SOY | 2023-03-13 | [Dollar slides as Fed rate hike outlook tumbles after SVB collapse](https://feedsoft.ai/events/37051-dollar-slides-as-fed-rate-hike-outlook-tumbles-after-svb-collapse.md) | -2.4% | -1.7% |
| CORN | 2026-08-19 | [Materials Up as Dollar Falls on Rate-Hike Skepticism -- Materials Roundup - MarketWatch](https://feedsoft.ai/events/17806-materials-up-as-dollar-falls-on-rate-hike-skepticism-materials-roundup.md) | +5.6% | +12.3% |
| CORN | 2018-01-25 | [Dollar falls as market fears impact of Trump's US-centric stance - Nikkei Asia](https://feedsoft.ai/events/67210-dollar-falls-as-market-fears-impact-of-trump-s-us-centric-stance-nikkei-asia.md) | +0.1% | +0.8% |
| 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% |

## Sources

- investing.com: https://www.investing.com/news/economy/yen-rises-on-speculation-of-boj-policy-tweak-dollar-ebbs-3214552
- reuters.com: https://www.reuters.com/markets/currencies/yen-languishes-focus-turns-fed-2023-11-01/

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