# Powell's steady hand steers dollar higher | Reuters

> The dollar strengthened as short-dated yield spreads widened in its favor against the euro, sterling, yen and yuan. Analysts described the trend as a win-win for the dollar in the near term. The move reflects rate differentials rather than a change in the U.S. economic outlook.

- Date: 2023-08-25 · published 2023-08-25T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/34783-powell-s-steady-hand-steers-dollar-higher-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar generally weighs on dollar-denominated commodity prices and raises import costs for feed buyers in other currencies. Continued rate-spread widening would keep this pressure on grain and meal markets.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-08-28 | [Dollar steady as Powell says higher rates may be needed - Business & Finance - Business Recorder](https://feedsoft.ai/events/34782-dollar-steady-as-powell-says-higher-rates-may-be-needed-business-and-finance.md) | +0.2% | +1.3% |
| DXY | 2024-09-30 | [Dollar gains as Fed's Powell adopts hawkish tone on economy \| Reuters](https://feedsoft.ai/events/28504-dollar-gains-as-fed-s-powell-adopts-hawkish-tone-on-economy-reuters.md) | +0.9% | +3.1% |
| DXY | 2025-10-29 | [Powell's comments curb December rate cut bets, boosting dollar \| Reuters](https://feedsoft.ai/events/22318-powell-s-comments-curb-december-rate-cut-bets-boosting-dollar-reuters.md) | +1.0% | +0.5% |
| DXY | 2017-11-01 | [U.S. Dollar Edges Higher as Trump Picks Powell to Head Fed - WSJ](https://feedsoft.ai/events/68152-u-s-dollar-edges-higher-as-trump-picks-powell-to-head-fed-wsj.md) | +0.1% | -1.2% |
| DXY | 2023-06-22 | [Dollar, yields rise after Powell comments, Bank of England rate hike \| Reuters](https://feedsoft.ai/events/35670-dollar-yields-rise-after-powell-comments-bank-of-england-rate-hike-reuters.md) | +0.5% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/us/powells-steady-hand-steers-dollar-higher-mcgeever-2023-08-25/

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