# Dollar steadies, risk currencies recover from omicron-driven drop

> The dollar index was little changed at 95.94 after rising on Powell's remarks that inflation risk had grown and the Fed could accelerate its taper. Risk currencies recovered partly from Omicron-driven losses, and euro-dollar volatility hit a 2021 high.

- Date: 2021-12-01 · published 2021-12-01T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/43797-dollar-steadies-risk-currencies-recover-from-omicron-driven-drop
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Hawkish Fed signals keep the dollar supported, which can weigh on dollar-priced commodities and currency-driven import costs for feed buyers.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-09-20 | [Evergrande jitters pull risk currencies lower, dollar gains on safety bid](https://feedsoft.ai/events/45274-evergrande-jitters-pull-risk-currencies-lower-dollar-gains-on-safety-bid.md) | +0.1% | +0.3% |
| DXY | 2023-11-16 | [The Impact of the Strong U.S. Dollar on Asian Currencies](https://feedsoft.ai/events/12030-the-impact-of-the-strong-u-s-dollar-on-asian-currencies.md) | -0.3% | -1.2% |
| DXY | 2020-09-23 | [Currencies slip as dollar gains on safe-haven demand, rand drops 1% \| Financial Post](https://feedsoft.ai/events/51393-currencies-slip-as-dollar-gains-on-safe-haven-demand-rand-drops-1-financial-post.md) | +0.8% | -1.4% |
| DXY | 2021-02-01 | [Dollar rises as investors back away from riskier currencies, Fed leaves rates unchanged](https://feedsoft.ai/events/49066-dollar-rises-as-investors-back-away-from-riskier-currencies-fed-leaves-rates.md) | +0.3% | +0.5% |
| DXY | 2021-06-18 | [Fed-fuelled dollar forces rival currencies onto back foot](https://feedsoft.ai/events/6128-fed-fuelled-dollar-forces-rival-currencies-onto-back-foot.md) | -0.2% | +0.4% |
| EURUSD | 2021-06-18 | [Fed-fuelled dollar forces rival currencies onto back foot](https://feedsoft.ai/events/6128-fed-fuelled-dollar-forces-rival-currencies-onto-back-foot.md) | +0.1% | -0.8% |
| EURUSD | 2022-10-05 | [U.S. dollar rallied Wednesday. What about other currencies?](https://feedsoft.ai/events/7985-u-s-dollar-rallied-wednesday-what-about-other-currencies.md) | -2.9% | -1.0% |
| EURUSD | 2022-10-03 | [Dollar up on euro as quarter ends, commodity led currencies sink - Business & Finance - Business Recorder](https://feedsoft.ai/events/9336-dollar-up-on-euro-as-quarter-ends-commodity-led-currencies-sink-business-and.md) | +0.0% | +1.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/12/01/forex-markets-jerome-powell-us-federal-reserve-omicron-covid-variant.html
- reuters.com: https://www.reuters.com/markets/currencies/euro-dollar-volatility-surges-omicron-bets-fed-2021-12-01/

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