# Dollar bounces before inflation data, bitcoin hits two-year high

> The dollar rose ahead of inflation data while bitcoin reached a two-year high. Expectations for the Fed's first rate cut were pushed back to June from May on strong growth, sticky inflation and hawkish Fed commentary.

- Date: 2024-02-28 · published 2024-02-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31867-dollar-bounces-before-inflation-data-bitcoin-hits-two-year-high
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar on delayed rate cuts makes dollar-priced grains and oilseeds more expensive for foreign buyers. Upcoming inflation data will set the next move in rate expectations.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-12-20 | [Dollar higher as big UK inflation drop hits pound](https://feedsoft.ai/events/32948-dollar-higher-as-big-uk-inflation-drop-hits-pound.md) | -0.8% | +1.0% |
| DXY | 2023-06-29 | [Dollar index hits two-week high as data boosts Fed hike expectations](https://feedsoft.ai/events/35661-dollar-index-hits-two-week-high-as-data-boosts-fed-hike-expectations.md) | +0.4% | -1.2% |
| DXY | 2021-08-11 | [Dollar hits highest since April ahead of inflation test](https://feedsoft.ai/events/45778-dollar-hits-highest-since-april-ahead-of-inflation-test.md) | +0.1% | -0.2% |
| DXY | 2024-11-13 | [Dollar hits one-year high on Trump trades](https://feedsoft.ai/events/7556-dollar-hits-one-year-high-on-trump-trades.md) | -0.3% | +0.1% |
| DXY | 2023-07-01 | [Dollar index hits two-week high after data; yen remains soft](https://feedsoft.ai/events/35681-dollar-index-hits-two-week-high-after-data-yen-remains-soft.md) | -0.3% | -1.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-firm-with-eyes-pce-data-kiwi-calm-before-rbnz-decision-2024-02-28/

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