# US dollar rallies on safe-haven bids, rate cut delay; yen hits 34-year low - The Economic Times

> The US dollar rose to its highest since November as safe-haven demand grew amid Middle East tensions, with Israel awaiting a possible Iranian attack. Rate-cut delay expectations and diverging monetary policy also supported the dollar, which was on track for its largest weekly gain since September 2022.

- Date: 2024-04-13 · published 2024-04-13T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/12557-us-dollar-rallies-on-safe-haven-bids-rate-cut-delay-yen-hits-34-year-low-the
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Geopolitical risk and a firmer dollar add upward pressure on energy costs and weigh on dollar-denominated feed commodity prices for importers.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2024-04-16 | 5 | +2.0% | 2.9 | Safe-haven bids over Middle East tensions and delayed rate cuts drove the largest weekly dollar gain since 2022. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-03-02 | [The US dollar Index Hits Multi-Year Highs  - Benzinga](https://feedsoft.ai/events/12083-the-us-dollar-index-hits-multi-year-highs-benzinga.md) | +1.6% | -0.2% |
| DXY | 2026-03-02 | [Dollar (USD) Gains as Higher Oil Prices Damp Bets on Fed Rate Cuts - Bloomberg](https://feedsoft.ai/events/10711-dollar-usd-gains-as-higher-oil-prices-damp-bets-on-fed-rate-cuts-bloomberg.md) | +1.4% | +2.6% |
| DXY | 2026-03-03 | [EUR/USD plunges below 1.1600 as US Dollar rallies amid risk-aversion mood](https://feedsoft.ai/events/11006-eur-usd-plunges-below-1-1600-as-us-dollar-rallies-amid-risk-aversion-mood.md) | +0.7% | +2.2% |
| DXY | 2024-05-01 | [Oil falls more than $1/bbl on Middle East peace talks, US rate cut doubts](https://feedsoft.ai/events/30636-oil-falls-more-than-1-bbl-on-middle-east-peace-talks-us-rate-cut-doubts.md) | -0.7% | -0.7% |
| 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% |
| WTI | 2019-03-01 | [oil: Oil rises on OPEC supply cuts, but surging US output and economic slowdown weigh - The Economic Times](https://feedsoft.ai/events/60280-oil-oil-rises-on-opec-supply-cuts-but-surging-us-output-and-economic-slowdown.md) | -1.0% | +3.6% |
| WTI | 2020-01-03 | [Soleimani strike lifts safe-haven yen; grim U.S. data hits dollar \| Reuters](https://feedsoft.ai/events/55321-soleimani-strike-lifts-safe-haven-yen-grim-u-s-data-hits-dollar-reuters.md) | -2.6% | -15.7% |
| WTI | 2019-04-01 | [OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts](https://feedsoft.ai/events/59501-opec-oil-output-hits-four-year-low-on-saudi-cuts-venezuela-blackouts.md) | +4.9% | +5.4% |

## Sources

- economictimes.indiatimes.com: https://economictimes.indiatimes.com/markets/forex/us-dollar-rallies-on-safe-haven-bids-rate-cut-delay-yen-hits-34-year-low/articleshow/109262175.cms

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