# Dollar hits 5-month high against euro; yen weakest since 1990

> The dollar hit a five-month high against the euro after Federal Reserve Chair Jerome Powell said rates may need to stay higher for longer because inflation remains sticky. The yen also weakened to its lowest level since 1990.

- Date: 2024-04-16 · published 2024-04-16T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/30942-dollar-hits-5-month-high-against-euro-yen-weakest-since-1990
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A stronger dollar on higher-for-longer US rates tends to pressure dollar-denominated grain and oilseed prices while making US exports less competitive abroad.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-11-30 | [US dollar extends gain against yen after best month since 1995](https://feedsoft.ai/events/74082-us-dollar-extends-gain-against-yen-after-best-month-since-1995.md) | -0.6% | +1.3% |
| DXY | 2016-11-30 | [Dollar surges to 8-1/2-month high against yen on OPEC deal](https://feedsoft.ai/events/74079-dollar-surges-to-8-1-2-month-high-against-yen-on-opec-deal.md) | -0.6% | +1.3% |
| DXY | 2026-03-27 | [Japanese yen hits 160 per dollar, weakest since July 2024](https://feedsoft.ai/events/20402-japanese-yen-hits-160-per-dollar-weakest-since-july-2024.md) | +0.1% | -1.4% |
| DXY | 2021-10-11 | [Forex markets: Dollar hits more than 2-year high against yen](https://feedsoft.ai/events/44794-forex-markets-dollar-hits-more-than-2-year-high-against-yen.md) | -0.5% | -0.7% |
| DXY | 2026-10-01 | [Dollar hits 17-month high versus euro as bond selloff lifts yields](https://feedsoft.ai/events/9653-dollar-hits-17-month-high-versus-euro-as-bond-selloff-lifts-yields.md) | +0.2% | +0.6% |
| EURUSD | 2026-10-01 | [Dollar hits 17-month high versus euro as bond selloff lifts yields](https://feedsoft.ai/events/9653-dollar-hits-17-month-high-versus-euro-as-bond-selloff-lifts-yields.md) | -1.4% | -1.6% |
| EURUSD | 2021-02-01 | [U.S. dollar reaches six-week high on weaker euro, Swiss franc and yen](https://feedsoft.ai/events/48877-u-s-dollar-reaches-six-week-high-on-weaker-euro-swiss-franc-and-yen.md) | -0.8% | -0.7% |
| EURUSD | 2018-05-29 | [Euro hits 10-month nadir versus dollare](https://feedsoft.ai/events/65218-euro-hits-10-month-nadir-versus-dollare.md) | +0.3% | +0.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-firms-after-hot-retail-sales-yen-languishes-china-data-awaited-2024-04-16/

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