# US dollar drifts lower, consolidates gains; seen rising further

> The dollar drifted lower after US consumer prices rose 3.1% year on year in January, above the expected 2.9%. Futures priced no rate cut in March and roughly an 80% chance of easing at the June meeting.

- Date: 2024-02-14 · published 2024-02-14T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31869-us-dollar-drifts-lower-consolidates-gains-seen-rising-further
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Hotter inflation pushes back rate cuts, which tends to support the dollar and weigh on dollar-priced commodities. The shift in expected timing of cuts is the key link to commodity prices.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-10-31 | [Dollar Consolidates, Yen Gains After BOJ Decision](https://feedsoft.ai/events/28112-dollar-consolidates-yen-gains-after-boj-decision.md) | +0.7% | +1.4% |
| DXY | 2024-04-17 | [US dollar weakens as market consolidates gains, but uptrend intact](https://feedsoft.ai/events/30908-us-dollar-weakens-as-market-consolidates-gains-but-uptrend-intact.md) | -0.3% | -1.0% |
| DXY | 2020-09-17 | [Dollar's post Fed gains fizzle as long rate pause seen \| Financial Post](https://feedsoft.ai/events/51284-dollar-s-post-fed-gains-fizzle-as-long-rate-pause-seen-financial-post.md) | +1.6% | +0.6% |
| DXY | 2021-03-23 | [Does the US dollar have further to fall?](https://feedsoft.ai/events/48319-does-the-us-dollar-have-further-to-fall.md) | +0.8% | -0.7% |
| DXY | 2021-08-26 | [Yen Falls on Rising US Yields, Dollar Soft Again - ActionForex](https://feedsoft.ai/events/45776-yen-falls-on-rising-us-yields-dollar-soft-again-actionforex.md) | -0.7% | -0.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-reigns-supreme-hot-cpi-cools-bets-fed-cuts-2024-02-14/

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