# Dollar, yields rise after Powell comments, Bank of England rate hike | Reuters

> The dollar and Treasury yields rose after Fed Chair Powell suggested more US rate hikes may be needed. The Bank of England delivered a larger-than-expected half-point hike to 5%.

- Date: 2023-06-22 · published 2023-06-22T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35670-dollar-yields-rise-after-powell-comments-bank-of-england-rate-hike-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Higher global rates strengthen the dollar and raise financing costs, which can pressure commodity prices and farm-sector credit.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-09-21 | [Reactions: Bank of England bashes pound after halting rate rises](https://feedsoft.ai/events/34354-reactions-bank-of-england-bashes-pound-after-halting-rate-rises.md) | +1.7% | +2.3% |
| DXY | 2023-10-12 | [Dollar, yields rise, stocks fall after US consumer price data By Reuters](https://feedsoft.ai/events/33818-dollar-yields-rise-stocks-fall-after-us-consumer-price-data-by-reuters.md) | +0.9% | -0.6% |
| DXY | 2022-10-28 | [Gold down 1% as dollar, yields rise on Fed rate-hike bets](https://feedsoft.ai/events/39036-gold-down-1-as-dollar-yields-rise-on-fed-rate-hike-bets.md) | +1.2% | -2.4% |
| DXY | 2023-06-28 | [Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes \| Reuters](https://feedsoft.ai/events/35413-nasdaq-ends-up-dollar-strengthens-as-powell-hints-at-more-rate-hikes-reuters.md) | +0.4% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/global-markets-wrapup-1-2023-06-22/

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