# US Dollar Index:  Strong Over 98.595, Weak Under 98.200 | FXEmpire

> The dollar has risen against all 16 major currencies over the past nine months on Fed rate-hike expectations. Historically the greenback has weakened on average during Fed tightening cycles, and Commonwealth Bank strategists say a peak may be near.

- Date: 2022-03-23 · published 2022-03-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/42440-us-dollar-index-strong-over-98-595-weak-under-98-200-fxempire
- 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

If the dollar peaks as history suggests, dollar-denominated commodities like grains and meals could find support from improving import demand.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-11-01 | [US dollar could weaken to 85 on the dollar index: Citi](https://feedsoft.ai/events/56262-us-dollar-could-weaken-to-85-on-the-dollar-index-citi.md) | +0.2% | +0.9% |
| DXY | 2024-06-28 | [US dollar slightly weaker on diminishing inflation](https://feedsoft.ai/events/29962-us-dollar-slightly-weaker-on-diminishing-inflation.md) | -0.7% | -0.5% |
| DXY | 2024-08-23 | [Pound Rises to Strongest in Over Two Years Against the US Dollar - Bloomberg](https://feedsoft.ai/events/29067-pound-rises-to-strongest-in-over-two-years-against-the-us-dollar-bloomberg.md) | -0.1% | -0.8% |
| DXY | 2023-12-14 | [Ringgit opens higher on declining US dollar index](https://feedsoft.ai/events/32988-ringgit-opens-higher-on-declining-us-dollar-index.md) | -1.3% | -1.3% |
| DXY | 2022-11-01 | [ECB Rate Hike Expectations, Weaker Dollar Lift Euro \| FXEmpire](https://feedsoft.ai/events/38898-ecb-rate-hike-expectations-weaker-dollar-lift-euro-fxempire.md) | -1.0% | -3.2% |
| CORN | 2023-03-28 | [U.S. Dollar Weakens Against Basket of Peers as Banking Crisis Concerns Ease \| FXEmpire](https://feedsoft.ai/events/37057-u-s-dollar-weakens-against-basket-of-peers-as-banking-crisis-concerns-ease.md) | +0.2% | -1.0% |
| CORN | 2018-01-24 | [Dollar tanks the most in 10 months after Mnuchin says weak dollar is good](https://feedsoft.ai/events/10401-dollar-tanks-the-most-in-10-months-after-mnuchin-says-weak-dollar-is-good.md) | +1.0% | +1.6% |
| CORN | 2024-08-02 | [US Dollar plunges on soft NFPs from July](https://feedsoft.ai/events/9288-us-dollar-plunges-on-soft-nfps-from-july.md) | -0.6% | -2.2% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/us-dollar-index-strong-over-98-595-weak-under-98-200-945281

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