# Dollar index lowest since August as inflation moderates | Reuters

> The US dollar fell to 16-week lows against a basket of major currencies on Dec 1. The move followed data showing solid consumer spending in October and moderating inflation. Traders took this as a sign the Federal Reserve is nearing the peak of its rate hikes.

- Date: 2022-12-01 · published 2022-12-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/38417-dollar-index-lowest-since-august-as-inflation-moderates-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar makes US commodities cheaper for foreign buyers and supports export demand for grains and meals. The lower dollar also reflects expectations of slower Fed tightening.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-11-14 | [Dollar sinks after data shows US inflation cooling \| Reuters](https://feedsoft.ai/events/10100-dollar-sinks-after-data-shows-us-inflation-cooling-reuters.md) | -1.8% | -1.4% |
| DXY | 2022-09-09 | [Dollar slides as investors balance positions ahead of U.S. inflation data \| Reuters](https://feedsoft.ai/events/39800-dollar-slides-as-investors-balance-positions-ahead-of-u-s-inflation-data-reuters.md) | +0.2% | +2.1% |
| DXY | 2024-05-31 | [Dollar set for first monthly drop after US inflation readout \| Reuters](https://feedsoft.ai/events/30421-dollar-set-for-first-monthly-drop-after-us-inflation-readout-reuters.md) | +0.3% | +1.8% |
| DXY | 2025-11-28 | [US dollar set for worst week since July as Fed rate cut looms \| Reuters](https://feedsoft.ai/events/22142-us-dollar-set-for-worst-week-since-july-as-fed-rate-cut-looms-reuters.md) | -0.5% | -1.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-sinks-3-month-low-vs-yen-powell-says-fed-go-slow-2022-12-01/

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