# US dollar falls, but off four-week lows, as Fed signals more rate hikes | Reuters

> The Federal Reserve held interest rates steady at its June meeting, as widely expected. It signaled that borrowing costs will still rise by another 50 basis points by the end of 2023. The U.S. dollar slid after the decision but stayed off four-week lows.

- Date: 2023-06-14 · published 2023-06-14T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/35412-us-dollar-falls-but-off-four-week-lows-as-fed-signals-more-rate-hikes-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expected further Fed tightening supports the dollar, which makes dollar-denominated commodities like feed grains and oilseeds more expensive for foreign buyers and tends to pressure prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-13 | [Dollar mostly firmer as Fed sees more U.S. rate hikes \| Reuters](https://feedsoft.ai/events/64708-dollar-mostly-firmer-as-fed-sees-more-u-s-rate-hikes-reuters.md) | +1.3% | +0.6% |
| DXY | 2023-06-23 | [Stocks fall, dollar up as investors weigh more rate hikes \| Reuters](https://feedsoft.ai/events/35674-stocks-fall-dollar-up-as-investors-weigh-more-rate-hikes-reuters.md) | +0.6% | -0.7% |
| DXY | 2022-08-02 | [Dollar jumps vs yen as Fed officials hint more rate hikes coming \| Reuters](https://feedsoft.ai/events/40270-dollar-jumps-vs-yen-as-fed-officials-hint-more-rate-hikes-coming-reuters.md) | +0.4% | +1.7% |
| DXY | 2026-09-16 | [Canadian dollar hits six-week low as investors bet on additional Fed rate hikes \| Reuters](https://feedsoft.ai/events/17700-canadian-dollar-hits-six-week-low-as-investors-bet-on-additional-fed-rate-hikes.md) | +0.6% | +2.6% |
| DXY | 2022-09-21 | [U.S. dollar soars to two-decade high as Fed flags more large hikes \| Reuters](https://feedsoft.ai/events/8605-u-s-dollar-soars-to-two-decade-high-as-fed-flags-more-large-hikes-reuters.md) | +2.6% | +2.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-droops-bets-build-fed-pause-yuan-6-mth-low-2023-06-14/

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