# Dollar finds its footing near seven-month low, all eyes on yen | Reuters

> The dollar held near a seven-month low as cooling US inflation led investors to believe the Fed is nearing the end of its rate-hike cycle with a lower peak than feared. Markets priced a 91% chance of a 25 basis point increase at the upcoming Fed decision.

- Date: 2023-01-16 · published 2023-01-16T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/37978-dollar-finds-its-footing-near-seven-month-low-all-eyes-on-yen-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar tied to a near-finished Fed hiking cycle generally supports dollar-priced commodities and improves import affordability for feed buyers abroad.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-08-29 | [Dollar drops on jobs data, yen rises from 10-month low \| Reuters](https://feedsoft.ai/events/34780-dollar-drops-on-jobs-data-yen-rises-from-10-month-low-reuters.md) | +0.9% | +1.8% |
| DXY | 2024-08-19 | [Sterling hits one-month high as Fed rate cut bets weigh on dollar \| Reuters](https://feedsoft.ai/events/29068-sterling-hits-one-month-high-as-fed-rate-cut-bets-weigh-on-dollar-reuters.md) | -0.8% | -0.7% |
| 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 | 2023-02-01 | [Dollar falls to nine-month low as Powell notes progress in disinflation \| Reuters](https://feedsoft.ai/events/37522-dollar-falls-to-nine-month-low-as-powell-notes-progress-in-disinflation-reuters.md) | +1.1% | +1.4% |
| DXY | 2017-06-30 | [U.S. dollar net longs fall to lowest in about a year: CFTC, Reuters](https://feedsoft.ai/events/70701-u-s-dollar-net-longs-fall-to-lowest-in-about-a-year-cftc-reuters.md) | +0.3% | -1.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/yen-tests-seven-month-high-ahead-boj-policy-decision-dollar-wobbles-2023-01-16/

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