# US Dollar Index steadies near 98.50, all eyes on Fed rate decision

> The US Dollar Index traded near 98.65 in early Asian hours on Wednesday ahead of the Fed decision, which was expected to hold rates at 3.50%-3.75%. Markets were focused on Powell's press conference and upcoming Q1 GDP and PCE inflation data.

- Date: 2026-04-29 · published 2026-04-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/19920-us-dollar-index-steadies-near-98-50-all-eyes-on-fed-rate-decision
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The index was largely flat ahead of the event, so the near-term effect on dollar-priced commodities was limited, with the bigger move depending on the Fed's tone.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-08-29 | [US Dollar Index surges near 98.00 ahead of PCE Price Index data](https://feedsoft.ai/events/23513-us-dollar-index-surges-near-98-00-ahead-of-pce-price-index-data.md) | -0.1% | +0.1% |
| DXY | 2025-10-29 | [US Dollar Index roils after Fed delivers expected interest rate moves](https://feedsoft.ai/events/22617-us-dollar-index-roils-after-fed-delivers-expected-interest-rate-moves.md) | +1.0% | +0.5% |
| DXY | 2024-02-16 | [Dollar steady after producer prices push back on Fed rate cut outlook](https://feedsoft.ai/events/31574-dollar-steady-after-producer-prices-push-back-on-fed-rate-cut-outlook.md) | -0.1% | -0.7% |
| DXY | 2024-01-31 | [Dollar Flat Ahead of FOMC Decision, US Payrolls Report](https://feedsoft.ai/events/32401-dollar-flat-ahead-of-fomc-decision-us-payrolls-report.md) | +0.3% | +0.4% |
| DXY | 2024-04-29 | [Market trades with caution ahead of US Fed rate decision this week](https://feedsoft.ai/events/31036-market-trades-with-caution-ahead-of-us-fed-rate-decision-this-week.md) | -0.7% | -1.1% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/us-dollar-index-steadies-near-9850-all-eyes-on-fed-rate-decision-202604290302

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