# Dollar Appreciation and Inflation | Richmond Fed

> The Richmond Fed explains that the U.S. dollar has appreciated about 11.4% year-over-year against a broad basket of currencies, reaching its strongest level since 1985. Rising U.S. interest rates and flight-to-safety flows following Russia's invasion of Ukraine are cited as drivers.

- Date: 2022-10-18 · published 2022-10-18T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/39035-dollar-appreciation-and-inflation-richmond-fed
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A stronger dollar makes U.S. exports such as grains and feed ingredients more expensive for foreign buyers, which can soften demand and pressure dollar-denominated feed commodity prices.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-04-15 | [USD appreciation: I need a dollar](https://feedsoft.ai/events/53820-usd-appreciation-i-need-a-dollar.md) | +1.5% | +0.8% |
| DXY | 2021-05-26 | [Equities, dollar rise as Fed officials downplay inflation concerns](https://feedsoft.ai/events/47004-equities-dollar-rise-as-fed-officials-downplay-inflation-concerns.md) | -0.2% | +1.4% |
| DXY | 2025-06-01 | [Ringgit slips against US dollar as US Fed flags inflation worries](https://feedsoft.ai/events/24948-ringgit-slips-against-us-dollar-as-us-fed-flags-inflation-worries.md) | -0.5% | -1.9% |
| DXY | 2023-11-30 | [Euro-Dollar Falls on Big Inflation Drop](https://feedsoft.ai/events/33380-euro-dollar-falls-on-big-inflation-drop.md) | +0.6% | -1.2% |
| DXY | 2024-08-30 | [US dollar rises broadly as inflation data underpins smaller Fed cut](https://feedsoft.ai/events/28980-us-dollar-rises-broadly-as-inflation-data-underpins-smaller-fed-cut.md) | +0.2% | -0.9% |
| CORN | 2026-10-14 | [Dollar hits fresh 18-month high as hot inflation boosts Fed hike expectation](https://feedsoft.ai/events/649-dollar-hits-fresh-18-month-high-as-hot-inflation-boosts-fed-hike-expectation.md) | -1.8% | — |
| CORN | 2024-07-27 | [Chinese yuan hits eight-month low with missed inflation data and US dollar rebound \| FX Blue](https://feedsoft.ai/events/9350-chinese-yuan-hits-eight-month-low-with-missed-inflation-data-and-us-dollar.md) | -1.0% | -4.8% |
| CORN | 2022-05-03 | [Dollar approaches 20-year highs, Fed meeting in focus](https://feedsoft.ai/events/8314-dollar-approaches-20-year-highs-fed-meeting-in-focus.md) | +3.6% | +3.0% |

## Sources

- richmondfed.org: https://www.richmondfed.org/research/national_economy/macro_minute/2022/mm_10_18_22

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