# Dollar falls to nine-month low as Powell notes progress in disinflation | Reuters

> The dollar fell to a nine-month low against a basket of currencies on February 1 after Fed Chair Powell said the central bank was making progress in bringing down inflation. Markets had been pricing in the possibility of a rate pause.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/37522-dollar-falls-to-nine-month-low-as-powell-notes-progress-in-disinflation-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar supports dollar-priced commodities by making them cheaper for overseas buyers, which tends to lift export demand and futures prices.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-12-01 | [Dollar index lowest since August as inflation moderates \| Reuters](https://feedsoft.ai/events/38417-dollar-index-lowest-since-august-as-inflation-moderates-reuters.md) | -0.6% | -1.5% |
| DXY | 2022-05-04 | [Dollar falls to one-week low as Powell pushes back against 75 bp hike \| Reuters](https://feedsoft.ai/events/41619-dollar-falls-to-one-week-low-as-powell-pushes-back-against-75-bp-hike-reuters.md) | +0.9% | -0.8% |
| DXY | 2026-08-21 | [Dollar falls to three-month low on Treasury buyback worries \| Reuters](https://feedsoft.ai/events/18084-dollar-falls-to-three-month-low-on-treasury-buyback-worries-reuters.md) | +0.1% | +1.1% |
| DXY | 2020-11-23 | [Dollar falls to 2018 lows as vaccine progress fuels risk demand - Moneyweb](https://feedsoft.ai/events/50334-dollar-falls-to-2018-lows-as-vaccine-progress-fuels-risk-demand-moneyweb.md) | -0.6% | -1.1% |
| DXY | 2022-08-12 | [Stronger dollar down for the week as clues point to inflation peak \| Reuters](https://feedsoft.ai/events/40271-stronger-dollar-down-for-the-week-as-clues-point-to-inflation-peak-reuters.md) | +1.4% | +2.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-pauses-ahead-fed-rate-decision-2023-02-01/

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