# Powell pushes dollar to three-month high

> Fed Chair Jerome Powell warned that rates may need to rise faster and higher than expected, pushing the dollar index to a three-month peak of 105.65. The euro fell more than 1.2% and the Australian dollar hit a four-month low of $0.6580.

- Date: 2023-03-08 · published 2023-03-08T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/37123-powell-pushes-dollar-to-three-month-high
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A stronger dollar makes US commodities pricier for foreign buyers and tends to weigh on grain and oilseed prices.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-06-07 | [Dollar rises to highest in a month - Moneyweb](https://feedsoft.ai/events/8476-dollar-rises-to-highest-in-a-month-moneyweb.md) | +1.4% | +0.8% |
| DXY | 2016-06-24 | [Euro sinks to three-month low vs. dollar](https://feedsoft.ai/events/6958-euro-sinks-to-three-month-low-vs-dollar.md) | +1.7% | +2.5% |
| DXY | 2016-11-14 | [Dollar surges to 11-month high as bond rout persists](https://feedsoft.ai/events/7743-dollar-surges-to-11-month-high-as-bond-rout-persists.md) | +1.4% | +0.8% |
| DXY | 2024-02-13 | [US dollar rises to three-month high after inflation data, surges past 150 yen](https://feedsoft.ai/events/31870-us-dollar-rises-to-three-month-high-after-inflation-data-surges-past-150-yen.md) | +0.1% | -0.6% |
| DXY | 2023-09-28 | [Dollar index powers to 10-month high - Business & Finance - Business Recorder](https://feedsoft.ai/events/34310-dollar-index-powers-to-10-month-high-business-and-finance-business-recorder.md) | +0.5% | +0.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/03/08/powell-pushes-dollar-to-three-month-high.html

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