# Dollar gains as Fed's Powell adopts hawkish tone on economy | Reuters

> The dollar rose on Monday after Federal Reserve Chair Jerome Powell took a more hawkish tone on the economy. The move led traders to pare bets on another 50 basis point rate cut at the Fed's next meeting.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/28504-dollar-gains-as-fed-s-powell-adopts-hawkish-tone-on-economy-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar makes US-priced grains and feed ingredients more expensive for foreign buyers, which weighs on export demand and prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-11-30 | [Gold retreats as Fed's Powell strikes hawkish tone](https://feedsoft.ai/events/43957-gold-retreats-as-fed-s-powell-strikes-hawkish-tone.md) | -0.4% | -1.0% |
| DXY | 2022-11-02 | [Dollar regains strength as Powell dashes hope of a Fed pause \| Reuters](https://feedsoft.ai/events/38842-dollar-regains-strength-as-powell-dashes-hope-of-a-fed-pause-reuters.md) | -1.4% | -4.2% |
| DXY | 2018-10-17 | [edges lower as dollar gains after hawkish Fed minutes](https://feedsoft.ai/events/62444-edges-lower-as-dollar-gains-after-hawkish-fed-minutes.md) | +1.1% | +2.3% |
| DXY | 2024-06-25 | [US dollar advances after hawkish Fed comment, economic data \| Reuters](https://feedsoft.ai/events/29634-us-dollar-advances-after-hawkish-fed-comment-economic-data-reuters.md) | +0.6% | -0.3% |
| DXY | 2022-11-17 | [Dollar rises with bets on hawkish Fed; sterling drops \| Reuters](https://feedsoft.ai/events/38594-dollar-rises-with-bets-on-hawkish-fed-sterling-drops-reuters.md) | +0.4% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/yen-steadies-dollar-slips-china-reaches-stimulus-2024-09-30/

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