# Dollar Strengthens Broadly on Fed Rate Expectations | The Epoch Times

> The US dollar rose for a second day on May 23, briefly touching a six-month high against the yen. Hawkish comments from Fed officials kept expectations for higher rates for longer, with markets pricing about a 30% chance of a June hike.

- Date: 2023-05-23 · published 2023-05-23T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36139-dollar-strengthens-broadly-on-fed-rate-expectations-the-epoch-times
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of higher US rates support the dollar, which lowers the dollar value of commodity exports and makes dollar-priced feed ingredients less attractive to importers. The effect is mainly a headwind for export-linked grain prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-06-24 | [US dollar strengthens to 13-month high on Fed rate hike expectations \| Reuters](https://feedsoft.ai/events/11985-us-dollar-strengthens-to-13-month-high-on-fed-rate-hike-expectations-reuters.md) | -0.1% | -0.4% |
| 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 | 2024-09-16 | [US dollar strengthens ahead of expected Fed rate cut](https://feedsoft.ai/events/28508-us-dollar-strengthens-ahead-of-expected-fed-rate-cut.md) | -0.2% | +1.1% |
| DXY | 2026-07-23 | [Malaysia's Currency Dips as Dollar Strengthens on Fed Rate Speculation](https://feedsoft.ai/events/18627-malaysia-s-currency-dips-as-dollar-strengthens-on-fed-rate-speculation.md) | +0.2% | -1.9% |
| DXY | 2018-10-03 | [US dollar strengthens after Fed comments - The Business Times](https://feedsoft.ai/events/62721-us-dollar-strengthens-after-fed-comments-the-business-times.md) | +0.6% | +2.3% |

## Sources

- theepochtimes.com: https://www.theepochtimes.com/business/dollar-strengthens-broadly-on-fed-rate-expectations-5284790

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