# Dollar firms after U.S. labor data suggests more rate hikes | Reuters

> The dollar strengthened on March 2 after US jobless claims pointed to a strong labor market and labor costs were revised higher. Fed officials signaled a slow and steady approach to rate hikes.

- Date: 2023-03-02 · published 2023-03-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/37076-dollar-firms-after-u-s-labor-data-suggests-more-rate-hikes-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A strong labor market and expectations of further rate hikes support the dollar, which tends to pressure dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-13 | [Dollar mostly firmer as Fed sees more U.S. rate hikes \| Reuters](https://feedsoft.ai/events/64708-dollar-mostly-firmer-as-fed-sees-more-u-s-rate-hikes-reuters.md) | +1.3% | +0.6% |
| DXY | 2023-06-23 | [Stocks fall, dollar up as investors weigh more rate hikes \| Reuters](https://feedsoft.ai/events/35674-stocks-fall-dollar-up-as-investors-weigh-more-rate-hikes-reuters.md) | +0.6% | -0.7% |
| DXY | 2021-02-26 | [Dollar firms after U.S. yield spike, hits six-month high versus yen \| Reuters](https://feedsoft.ai/events/10595-dollar-firms-after-u-s-yield-spike-hits-six-month-high-versus-yen-reuters.md) | +0.7% | +1.9% |
| DXY | 2025-01-07 | [Dollar firms as solid US data suggests Fed likely to slow easing cycle \| Reuters](https://feedsoft.ai/events/26419-dollar-firms-as-solid-us-data-suggests-fed-likely-to-slow-easing-cycle-reuters.md) | +1.2% | -0.3% |
| DXY | 2026-02-19 | [Dollar advances after data implies stable labor market \| Reuters](https://feedsoft.ai/events/20506-dollar-advances-after-data-implies-stable-labor-market-reuters.md) | -0.1% | +1.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-squeezed-inflation-drives-up-euro-2023-03-02/

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