# Affording the dollar’s decline | UBS Global

> UBS economists argue that the dollar's broad 2026 decline will have a smaller effect on US inflation than tariffs did. Most US import contracts are priced in dollars and fixed for their duration, so currency moves pass through slowly.

- Date: 2026-01-30 · published 2026-01-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/21242-affording-the-dollar-s-decline-ubs-global
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Because import contracts are dollar-denominated and fixed, a weaker dollar does not immediately raise US costs for imported feed inputs. Any commodity price effect from the currency should therefore build gradually.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-02-22 | [Watch the dollar for de-globalisation](https://feedsoft.ai/events/37523-watch-the-dollar-for-de-globalisation.md) | +0.6% | +0.2% |
| DXY | 2024-03-01 | [FX: A dollar decline is delayed, not deterred \| ING THINK](https://feedsoft.ai/events/31396-fx-a-dollar-decline-is-delayed-not-deterred-ing-think.md) | -0.8% | -0.1% |
| DXY | 2020-04-22 | [Forecasts for the loonie and U.S. dollar](https://feedsoft.ai/events/53870-forecasts-for-the-loonie-and-u-s-dollar.md) | -0.4% | -1.1% |
| DXY | 2022-06-22 | [Dollar slips as global growth worries fester](https://feedsoft.ai/events/41181-dollar-slips-as-global-growth-worries-fester.md) | -0.0% | +1.6% |
| DXY | 2017-09-25 | [It's risky to go long on the dollar \| The National](https://feedsoft.ai/events/69151-it-s-risky-to-go-long-on-the-dollar-the-national.md) | +1.2% | +2.3% |

## Sources

- ubs.com: https://www.ubs.com/global/en/wealthmanagement/insights/chief-investment-office/market-insights/paul-donovan/2026/weekly/affording-the-dollars-decline.html

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