# Dollar spikes against major currencies

> The U.S. dollar rose against major currencies after stronger-than-expected data showed jobless claims at a 28-year low and a Philly Fed index at double expectations. The data revived expectations for a Federal Reserve rate hike and pushed safe-haven currencies lower.

- Date: 2017-05-18 · published 2017-05-18T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/4359-dollar-spikes-against-major-currencies
- 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 firmer dollar and higher U.S. rate expectations tend to weigh on dollar-denominated grain and oilseed prices while making U.S. exports less competitive.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-08-13 | [Broad basket of currencies losing ground against dollar](https://feedsoft.ai/events/9470-broad-basket-of-currencies-losing-ground-against-dollar.md) | +0.2% | +0.3% |
| DXY | 2020-03-24 | [US dollar to test 105 against basket of currencies, says analyst](https://feedsoft.ai/events/6585-us-dollar-to-test-105-against-basket-of-currencies-says-analyst.md) | -2.3% | -2.4% |
| DXY | 2019-08-26 | [Rupee crashes below 72 mark against dollar on currency rout](https://feedsoft.ai/events/57851-rupee-crashes-below-72-mark-against-dollar-on-currency-rout.md) | +0.7% | -0.0% |
| DXY | 2023-02-16 | [EM currencies muted as dollar rises, Colombia's peso falls again](https://feedsoft.ai/events/37627-em-currencies-muted-as-dollar-rises-colombia-s-peso-falls-again.md) | +0.5% | +1.1% |
| DXY | 2022-07-29 | [The strengthening of the U.S. dollar against the Latin American currencies - Latinoamérica 21](https://feedsoft.ai/events/40785-the-strengthening-of-the-u-s-dollar-against-the-latin-american-currencies.md) | -0.2% | +0.8% |
| CORN | 2020-01-31 | [Coronavirus and current account deficit hit the Brazilian Real against the dollar — MercoPress](https://feedsoft.ai/events/55285-coronavirus-and-current-account-deficit-hit-the-brazilian-real-against-the.md) | -0.6% | -3.2% |
| CORN | 2019-09-03 | [US dollar just hit 2-year high, closes in on another major milestone](https://feedsoft.ai/events/12331-us-dollar-just-hit-2-year-high-closes-in-on-another-major-milestone.md) | -6.0% | +1.2% |
| CORN | 2021-06-18 | [As Fed wakes sleeping dollar, jolted bears may bolster gains](https://feedsoft.ai/events/5928-as-fed-wakes-sleeping-dollar-jolted-bears-may-bolster-gains.md) | +0.3% | -5.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/05/17/dollar-at-6-month-low-as-washington-rocked-by-probe-into-trump-campaign.html

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