# Dollar higher as U.S. debt ceiling concerns keep traders nervous

> The US dollar hit a two-month high against a basket of currencies as US debt ceiling talks stalled. Hawkish comments from Fed presidents also raised expectations of further rate increases, and the dollar rose to 138.91 against the yen.

- Date: 2023-05-23 · published 2023-05-23T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36173-dollar-higher-as-u-s-debt-ceiling-concerns-keep-traders-nervous
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A stronger dollar makes dollar-priced feed commodities more expensive for buyers in other currencies, which can weigh on US export demand and prices.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-20 | [Dollar hovers near 11-month high as trade concerns weigh](https://feedsoft.ai/events/8535-dollar-hovers-near-11-month-high-as-trade-concerns-weigh.md) | -0.3% | -0.3% |
| DXY | 2023-05-25 | [US Dollar (DXY):  Soars to Two-Month High Amid Resilient Economy, Debt Ceiling Concerns \| FXEmpire](https://feedsoft.ai/events/36138-us-dollar-dxy-soars-to-two-month-high-amid-resilient-economy-debt-ceiling.md) | -0.4% | -1.1% |
| DXY | 2025-03-21 | [Dollar ends week higher versus euro as traders book gains](https://feedsoft.ai/events/25774-dollar-ends-week-higher-versus-euro-as-traders-book-gains.md) | +0.3% | -2.3% |
| DXY | 2025-06-17 | [Dollar trades higher after mixed US data, but Mideast conflict keeps mood tense](https://feedsoft.ai/events/24464-dollar-trades-higher-after-mixed-us-data-but-mideast-conflict-keeps-mood-tense.md) | +0.2% | +0.2% |
| DXY | 2021-07-22 | [Euro slips; U.S. dollar inches higher in volatile trading](https://feedsoft.ai/events/46292-euro-slips-u-s-dollar-inches-higher-in-volatile-trading.md) | -0.2% | +0.3% |
| CORN | 2023-05-18 | [US dollar rises to seven-week high buoyed by data, debt ceiling optimism](https://feedsoft.ai/events/36208-us-dollar-rises-to-seven-week-high-buoyed-by-data-debt-ceiling-optimism.md) | +5.6% | +2.2% |
| CORN | 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) | -6.4% | -1.7% |
| CORN | 2021-06-18 | [Hawkish Bullard sends US Dollar higher](https://feedsoft.ai/events/5935-hawkish-bullard-sends-us-dollar-higher.md) | +0.3% | -5.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/05/23/dollar-hits-6-month-high-versus-yen-on-us-rate-expectations.html

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