# US Dollar (DXY):  Soars to Two-Month High Amid Resilient Economy, Debt Ceiling Concerns | FXEmpire

> The US dollar index reached a two-month high against the euro and a six-month high against the yen on May 25. Traders cut bets on rate cuts because of a resilient economy, and safe-haven demand grew amid the US debt ceiling impasse.

- Date: 2023-05-25 · published 2023-05-25T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36138-us-dollar-dxy-soars-to-two-month-high-amid-resilient-economy-debt-ceiling
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A firmer dollar makes US commodities more expensive for foreign buyers, which tends to pressure US grain and oilseed export prices. It also raises import costs for feed-importing countries.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-05-23 | [Dollar higher as U.S. debt ceiling concerns keep traders nervous](https://feedsoft.ai/events/36173-dollar-higher-as-u-s-debt-ceiling-concerns-keep-traders-nervous.md) | +0.4% | -1.1% |
| DXY | 2022-06-20 | [US dollar to remain resilient amid the re-pricing higher in Fed's rate expectations – ING — Octa](https://feedsoft.ai/events/41145-us-dollar-to-remain-resilient-amid-the-re-pricing-higher-in-fed-s-rate.md) | -0.9% | +1.0% |
| DXY | 2020-01-30 | [US Dollar On A Two-Month High, Asian Currencies Consistently Declining](https://feedsoft.ai/events/55323-us-dollar-on-a-two-month-high-asian-currencies-consistently-declining.md) | +0.3% | +1.4% |
| 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% |
| DXY | 2024-04-23 | [Dollar's value climbs amid high interest rates, thriving U.S. economy](https://feedsoft.ai/events/30912-dollar-s-value-climbs-amid-high-interest-rates-thriving-u-s-economy.md) | -0.4% | -1.5% |
| EURUSD | 2023-09-14 | [Dollar jumps to 6-month high after data, ECB announcement \| Reuters](https://feedsoft.ai/events/34313-dollar-jumps-to-6-month-high-after-data-ecb-announcement-reuters.md) | -0.2% | -1.7% |
| EURUSD | 2022-04-27 | [Dollar hits five-year high, growth concerns dent euro](https://feedsoft.ai/events/7377-dollar-hits-five-year-high-growth-concerns-dent-euro.md) | -1.2% | +0.8% |
| EURUSD | 2023-10-31 | [EUR/USD Mixed Amidst US Economy Resilience](https://feedsoft.ai/events/33845-eur-usd-mixed-amidst-us-economy-resilience.md) | +1.2% | +3.3% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/us-dollar-dxy-soars-to-two-month-high-amid-resilient-economy-debt-ceiling-concerns-1349401

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