# Dollar dips on dovish Powell comments | Reuters

> The dollar dipped after Fed Chair Powell said the economy's strength could warrant further rate increases but noted that higher bond yields had significantly tightened financial conditions. Fed funds futures implied a 30% chance of a December hike, down from 39% before his comments.

- Date: 2023-10-19 · published 2023-10-19T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/33814-dollar-dips-on-dovish-powell-comments-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower odds of further tightening weaken the dollar and can support dollar-priced commodities, while higher yields have been a headwind for risk assets.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-30 | [US dollar falls on dovish remarks by Fed's Powell](https://feedsoft.ai/events/32901-us-dollar-falls-on-dovish-remarks-by-fed-s-powell.md) | +0.6% | -1.2% |
| DXY | 2025-01-23 | [Dollar dips after Trump comments as markets eye tariffs, central banks \| Reuters](https://feedsoft.ai/events/12674-dollar-dips-after-trump-comments-as-markets-eye-tariffs-central-banks-reuters.md) | +0.0% | -1.0% |
| DXY | 2021-10-28 | [Dollar index drops on euro rise after ECB comments](https://feedsoft.ai/events/7166-dollar-index-drops-on-euro-rise-after-ecb-comments.md) | +0.6% | +2.5% |
| DXY | 2023-02-01 | [Stocks rally, dollar slumps after Fed statement, Powell remarks \| Reuters](https://feedsoft.ai/events/37526-stocks-rally-dollar-slumps-after-fed-statement-powell-remarks-reuters.md) | +1.1% | +1.4% |
| DXY | 2025-02-11 | [Dollar falls as tariff concerns ease, Fed's Powell stays patient on rate cuts \| Reuters](https://feedsoft.ai/events/25966-dollar-falls-as-tariff-concerns-ease-fed-s-powell-stays-patient-on-rate-cuts.md) | -1.0% | -2.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-holds-near-150-yen-ahead-fed-chair-remarks-2023-10-19/

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