# Dollar edges lower vs euro on ECB rate hike bets | Reuters

> The dollar slipped against the euro on Monday, hitting a fresh nine-month low, as the euro gained on ECB officials' comments backing two more 50 basis point hikes in February and March. Reuters analysts' survey also favoured those hikes and an eventual ECB peak rate of 3.25%.

- Date: 2023-01-23 · published 2023-01-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/37999-dollar-edges-lower-vs-euro-on-ecb-rate-hike-bets-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Wider expected rate differentials favouring the euro weaken the dollar, which tends to support dollar-priced commodities and lift the cost of US export grain and oilseed sales for importers.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-05-23 | [Euro climbs as ECB eyes rate hikes, dollar slides \| Reuters](https://feedsoft.ai/events/12687-euro-climbs-as-ecb-eyes-rate-hikes-dollar-slides-reuters.md) | -0.9% | +1.1% |
| DXY | 2022-05-23 | [Dollar Vs. Euro: Greenback Hits One-Month Low As ECB Eyes Rate Hikes - Markets Insider](https://feedsoft.ai/events/41613-dollar-vs-euro-greenback-hits-one-month-low-as-ecb-eyes-rate-hikes-markets.md) | -0.9% | +1.1% |
| DXY | 2023-12-14 | [Euro-Dollar Closing On 1.10 As ECB Resists Rate Cut Bets](https://feedsoft.ai/events/8300-euro-dollar-closing-on-1-10-as-ecb-resists-rate-cut-bets.md) | -1.3% | -1.3% |
| DXY | 2022-07-18 | [Dollar retreats as rate hike bets ease](https://feedsoft.ai/events/40684-dollar-retreats-as-rate-hike-bets-ease.md) | -0.8% | -2.0% |
| DXY | 2024-08-27 | [Pound hits two-year high on dollar, gains on euro \| Reuters](https://feedsoft.ai/events/29066-pound-hits-two-year-high-on-dollar-gains-on-euro-reuters.md) | +0.9% | -0.5% |
| EURUSD | 2022-05-23 | [Euro climbs as ECB eyes rate hikes, dollar slides \| Reuters](https://feedsoft.ai/events/12687-euro-climbs-as-ecb-eyes-rate-hikes-dollar-slides-reuters.md) | +1.4% | -0.1% |
| EURUSD | 2022-05-23 | [Dollar Vs. Euro: Greenback Hits One-Month Low As ECB Eyes Rate Hikes - Markets Insider](https://feedsoft.ai/events/41613-dollar-vs-euro-greenback-hits-one-month-low-as-ecb-eyes-rate-hikes-markets.md) | +1.4% | -0.1% |
| EURUSD | 2023-12-14 | [Euro-Dollar Closing On 1.10 As ECB Resists Rate Cut Bets](https://feedsoft.ai/events/8300-euro-dollar-closing-on-1-10-as-ecb-resists-rate-cut-bets.md) | +1.5% | +1.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/euro-nears-nine-month-peak-ecb-hawks-let-fly-2023-01-23/

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