# Dollar (USD) Hits Near Pre-Pivot Level as Job Data Roils Rate-Cut Bets - Bloomberg

> The dollar jumped after a strong January jobs report, moving back near levels seen before the Fed's December pivot. The yen weakened 1.5% to 148.58 per dollar, and bond yields rose sharply.

- Date: 2024-02-02 · published 2024-02-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31872-dollar-usd-hits-near-pre-pivot-level-as-job-data-roils-rate-cut-bets-bloomberg
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A firmer dollar and fewer near-term rate cuts weigh on dollar-priced commodities and make imported feed more costly for emerging-market buyers. Traders had to unwind bets on imminent easing.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-06-23 | [Dollar Hits Highest Since November as Fed Rate Hike Bets Strengthen - Bloomberg](https://feedsoft.ai/events/11990-dollar-hits-highest-since-november-as-fed-rate-hike-bets-strengthen-bloomberg.md) | +0.3% | +0.0% |
| DXY | 2024-12-31 | [Dollar Gains as Fed Rate-Cut Rethink Fuels Best Year in Nine - Bloomberg](https://feedsoft.ai/events/27133-dollar-gains-as-fed-rate-cut-rethink-fuels-best-year-in-nine-bloomberg.md) | -0.2% | -0.4% |
| DXY | 2024-01-17 | [Dollar hits new one-month high as data weighs on rate cut hopes](https://feedsoft.ai/events/32291-dollar-hits-new-one-month-high-as-data-weighs-on-rate-cut-hopes.md) | +0.4% | +0.8% |
| DXY | 2024-09-23 | [US Dollar Forecast: EUR/USD Falls as Weak Eurozone Data Fuels ECB Rate Cut Bets \| FXEmpire](https://feedsoft.ai/events/28531-us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets.md) | -0.2% | +2.5% |
| DXY | 2024-04-16 | [USD Dollar Heads for Best Run in Year in Bet on Fed Delaying Cuts - Bloomberg](https://feedsoft.ai/events/12554-usd-dollar-heads-for-best-run-in-year-in-bet-on-fed-delaying-cuts-bloomberg.md) | +0.5% | -0.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-02-02/dollar-hits-near-pre-pivot-level-as-job-data-roils-rate-cut-bets

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