# Dollar falls to one-week low as Powell pushes back against 75 bp hike | Reuters

> The dollar fell to a one-week low against a basket of currencies after Federal Reserve Chair Jerome Powell downplayed the prospect of a 75 basis point hike. Powell also said the central bank would act aggressively.

- Date: 2022-05-04 · published 2022-05-04T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/41619-dollar-falls-to-one-week-low-as-powell-pushes-back-against-75-bp-hike-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of smaller Fed hikes weaken the dollar, which can modestly support dollar-priced commodity values. The effect on feed markets is typically limited and short-lived.

## 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 | 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 | 2023-12-08 | [Dollar drops to one-week low against dong VnExpress News](https://feedsoft.ai/events/33028-dollar-drops-to-one-week-low-against-dong-vnexpress-news.md) | -0.9% | -1.1% |
| DXY | 2020-02-29 | [US dollar dives to 7-week low against yen on Fed rate cut hint \| Malay Mail](https://feedsoft.ai/events/54819-us-dollar-dives-to-7-week-low-against-yen-on-fed-rate-cut-hint-malay-mail.md) | -0.8% | +4.0% |
| DXY | 2026-07-29 | [Dollar Falls to One-Week Low After Fed Keeps Interest Rates Unchanged - Bloomberg](https://feedsoft.ai/events/8419-dollar-falls-to-one-week-low-after-fed-keeps-interest-rates-unchanged-bloomberg.md) | -0.9% | -2.0% |

## Sources

- reuters.com: https://www.reuters.com/business/dollar-just-off-20-year-highs-rally-hinges-fed-signals-2022-05-04/

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