# US Dollar Index News: DXY Reacts to Powell’s Speech, Rate Hike Speculations Rise | FXEmpire

> The dollar index retreated slightly to 104.12 from a 12-week high, after Powell's Jackson Hole remarks hinted at possible further rate adjustments. Markets priced an 80% chance of the Fed holding next month and a 51% chance of a November hike. Powell highlighted progress on inflation alongside U.S. economic strength.

- Date: 2023-08-28 · published 2023-08-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/34785-us-dollar-index-news-dxy-reacts-to-powell-s-speech-rate-hike-speculations-rise
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The balance between a possible November hike and a likely pause keeps the dollar range-bound, which limits the direct price impact on dollar-priced feed commodities. Any firm signal of further tightening would support the dollar.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-01-31 | [Potential US Dollar Reactions to FOMC Decision](https://feedsoft.ai/events/73151-potential-us-dollar-reactions-to-fomc-decision.md) | -0.6% | -0.6% |
| DXY | 2026-04-29 | [US Dollar Index steadies near 98.50, all eyes on Fed rate decision](https://feedsoft.ai/events/19920-us-dollar-index-steadies-near-98-50-all-eyes-on-fed-rate-decision.md) | -0.1% | +0.3% |
| DXY | 2024-06-05 | [US dollar to weaken, but Fed rate cuts are required, say strategists:  Reuters poll](https://feedsoft.ai/events/29967-us-dollar-to-weaken-but-fed-rate-cuts-are-required-say-strategists-reuters-poll.md) | +1.1% | +0.9% |
| DXY | 2022-10-15 | [Fed's Bullard says boost to dollar from interest rate hikes may ease \| Reuters](https://feedsoft.ai/events/39330-fed-s-bullard-says-boost-to-dollar-from-interest-rate-hikes-may-ease-reuters.md) | -0.5% | -3.8% |
| DXY | 2018-07-31 | [British Pound US Dollar X-Rate Forecast Warning: No BoE Hike Would Crush GBP/USD To 1.28](https://feedsoft.ai/events/64275-british-pound-us-dollar-x-rate-forecast-warning-no-boe-hike-would-crush-gbp-usd.md) | +0.6% | +0.6% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/us-dollar-index-news-dxy-reacts-to-powells-speech-rate-hike-speculations-rise-1370776

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