# Dollar index hits two-week high as data boosts Fed hike expectations

> The US dollar index rose to a two-week high on Thursday after labor market data showed continued solid footing. The data gave the Federal Reserve room to keep raising interest rates.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/35661-dollar-index-hits-two-week-high-as-data-boosts-fed-hike-expectations
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar on rate-hike expectations tends to pressure dollar-denominated grain and meal prices and can weigh on export competitiveness.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-10-14 | [Dollar hits fresh 18-month high as hot inflation boosts Fed hike expectation](https://feedsoft.ai/events/649-dollar-hits-fresh-18-month-high-as-hot-inflation-boosts-fed-hike-expectation.md) | -0.3% | — |
| DXY | 2026-08-26 | [U.S. data buoys dollar as Fed hike expectations nudged higher](https://feedsoft.ai/events/18082-u-s-data-buoys-dollar-as-fed-hike-expectations-nudged-higher.md) | +0.4% | +1.6% |
| DXY | 2023-07-01 | [Dollar index hits two-week high after data; yen remains soft](https://feedsoft.ai/events/35681-dollar-index-hits-two-week-high-after-data-yen-remains-soft.md) | -0.3% | -1.3% |
| DXY | 2022-10-31 | [Dollar gains on Fed rate hike expectations](https://feedsoft.ai/events/39325-dollar-gains-on-fed-rate-hike-expectations.md) | -0.1% | -2.8% |
| DXY | 2022-01-28 | [Dollar set for sparkling week as hike expectations surge \| Financial Post](https://feedsoft.ai/events/12226-dollar-set-for-sparkling-week-as-hike-expectations-surge-financial-post.md) | -0.9% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-near-7-12-month-high-versus-yen-central-bankers-reaffirm-policy-2023-06-29/

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