# The US dollar Index Hits Multi-Year Highs  - Benzinga

> The U.S. Dollar Index hit a multi-year high of 97.80 on March 2, 2022, as escalating Ukraine fighting, more punitive Russia sanctions, and solid U.S. manufacturing data drove demand for the dollar. The index broke above its prior range since December 2021.

- Date: 2022-03-02 · published 2022-03-02T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12083-the-us-dollar-index-hits-multi-year-highs-benzinga
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A breakout to multi-year highs signals sustained dollar strength that weighs on dollar-denominated feed commodity prices and export competitiveness. Sanctions-driven risk aversion may keep this pressure in place.

## Read by commodity

- DXY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2022-03-07 | 5 | +1.8% | 3.1 | Dollar index hit a multi-year high on March 2 on Ukraine escalation, sanctions and solid US data, adding to gains early in the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-02-22 | [US Dollar Index advances to multi-day highs near 96.30 on geopolitics: Analytics and Market news from 22 February 2022 06:43](https://feedsoft.ai/events/6986-us-dollar-index-advances-to-multi-day-highs-near-96-30-on-geopolitics-analytics.md) | +0.4% | +1.0% |
| DXY | 2024-04-13 | [US dollar rallies on safe-haven bids, rate cut delay; yen hits 34-year low - The Economic Times](https://feedsoft.ai/events/12557-us-dollar-rallies-on-safe-haven-bids-rate-cut-delay-yen-hits-34-year-low-the.md) | +0.7% | -0.2% |
| DXY | 2022-02-24 | [Dollar jumps to near two-year high as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/6980-dollar-jumps-to-near-two-year-high-as-russia-invades-ukraine-reuters.md) | +1.0% | +1.2% |
| DXY | 2022-02-24 | [Canadian dollar hits two-month low as Russia invades Ukraine - The Globe and Mail](https://feedsoft.ai/events/42918-canadian-dollar-hits-two-month-low-as-russia-invades-ukraine-the-globe-and-mail.md) | +1.0% | +1.2% |
| DXY | 2022-03-04 | [Flight to Quality Takes US Dollar Higher - ADM Investor Services](https://feedsoft.ai/events/12082-flight-to-quality-takes-us-dollar-higher-adm-investor-services.md) | +0.7% | -0.6% |

## Sources

- benzinga.com: https://www.benzinga.com/22/03/25949261/the-us-dollar-index-hits-multi-year-highs

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