# Have We Seen a Short-Term Bottom for the Dollar?

> The US Dollar Index closed slightly higher for the week ended February 8, 2018, ending seven straight weekly losses. A hawkish FOMC statement, strong January payrolls and profit-taking in other major currencies supported the dollar, which closed at 89.0.

- Date: 2018-02-05 · published 2018-02-05T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12005-have-we-seen-a-short-term-bottom-for-the-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The dollar's first weekly gain in seven weeks could limit the price support that a weaker dollar gives to dollar-priced commodities. Speculators remained net short, so further short covering could add to dollar strength.

## Read by commodity

- DXY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2018-02-08 | 5 | +1.7% | 3.1 | Hawkish FOMC statement, strong payrolls and profit-taking in other currencies ended seven weekly losses and supported the dollar. |

## Sources

- marketrealist.com: https://marketrealist.com/2018/02/seen-short-term-bottom-dollar/

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