# Dollar's historic surge may be music to Fed's ears: McGeever

> The dollar has risen sharply, and the Fed raised its policy rate by 75 basis points at its July 26-27 meeting. Policymakers cited the stronger dollar's drag on import prices as one factor likely to help bring inflation down.

- Date: 2022-08-24 · published 2022-08-24T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/39939-dollar-s-historic-surge-may-be-music-to-fed-s-ears-mcgeever
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar makes US commodity exports more expensive for foreign buyers and tends to pressure dollar-priced grain and oilseed prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-08-24 | [The Fed's 'Super Dollar': How Much Longer?](https://feedsoft.ai/events/63694-the-fed-s-super-dollar-how-much-longer.md) | -0.0% | -0.5% |
| DXY | 2016-11-16 | [Dollar index surges to 14-year high](https://feedsoft.ai/events/8327-dollar-index-surges-to-14-year-high.md) | +0.6% | -0.0% |
| DXY | 2022-05-06 | [No place to hide: Dollar's surge cuts across markets](https://feedsoft.ai/events/41617-no-place-to-hide-dollar-s-surge-cuts-across-markets.md) | +1.1% | -1.5% |
| DXY | 2024-06-26 | [Dollar Soars to Fresh 2024 High as Fed Diverges From Major Peers](https://feedsoft.ai/events/29963-dollar-soars-to-fresh-2024-high-as-fed-diverges-from-major-peers.md) | +0.3% | -0.3% |
| DXY | 2022-04-22 | [Dollar's rally may be nearing 'tipping point' as Fed readies big hikes \| Reuters](https://feedsoft.ai/events/42032-dollar-s-rally-may-be-nearing-tipping-point-as-fed-readies-big-hikes-reuters.md) | +2.5% | +2.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/us/dollars-historic-surge-may-be-music-feds-ears-mcgeever-2022-08-24/

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