# Is There a New Trend for USD? | IG South Africa

> The US dollar weakened in Asia after FOMC minutes showed a united board backing a 25 basis point hike and a firm commitment to fighting inflation. Markets priced 25bp hikes for the next three FOMC meetings, and the Bank of Korea held rates at 3.50%.

- Date: 2023-02-23 · published 2023-02-23T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/37594-is-there-a-new-trend-for-usd-ig-south-africa
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Expectations of continued Fed tightening support the dollar over the medium term, which tends to weigh on dollar-priced commodities and raises import costs for emerging-market feed buyers.

## Read by commodity

- DXY: bullish ▲
- USDKRW: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-12-07 | [US Dollar outlook for 2022 \| IG South Africa](https://feedsoft.ai/events/43494-us-dollar-outlook-for-2022-ig-south-africa.md) | -0.3% | -0.9% |
| DXY | 2018-03-19 | [What to expect from the Federal Reserve rate meeting \| IG South Africa](https://feedsoft.ai/events/65909-what-to-expect-from-the-federal-reserve-rate-meeting-ig-south-africa.md) | -1.2% | -1.3% |
| DXY | 2023-06-30 | [Breakouts in US bond markets – a tailwind for the USD](https://feedsoft.ai/events/35677-breakouts-in-us-bond-markets-a-tailwind-for-the-usd.md) | -0.4% | -1.5% |
| DXY | 2018-09-30 | [Is the US dollar heading for a crash?  \| The National](https://feedsoft.ai/events/63245-is-the-us-dollar-heading-for-a-crash-the-national.md) | +0.7% | +1.8% |
| DXY | 2018-04-26 | [USD/JPY a sell here? Dollar is strong for 'bad' reasons - Nomura — Octa](https://feedsoft.ai/events/65738-usd-jpy-a-sell-here-dollar-is-strong-for-bad-reasons-nomura-octa.md) | +0.7% | +2.1% |

## Sources

- ig.com: https://www.ig.com/za/news-and-trade-ideas/us-dollar-slides-after-fomc-boost-230223

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