# Breaking: Dollar surges as Fed Chair Powell says appropriate to consider faster QE taper: Analytics and Market news from 30 November 2021 16:22

> The dollar surged after Fed Chair Powell said it would be appropriate to consider ending the QE taper sooner and retiring the word transitory for inflation. The DXY rallied above 96.50 before partly retracing, and US 2-year yields jumped more than 10 basis points.

- Date: 2021-11-30 · published 2021-11-30T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/44246-breaking-dollar-surges-as-fed-chair-powell-says-appropriate-to-consider-faster
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Earlier tightening and a firmer dollar raise the cost of dollar-priced commodities for overseas buyers and can pressure futures. The move also lifts short-term yields, which affects hedging and storage costs.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-01-30 | [USD: Coronavirus fears to keep the dollar bid - ING: Analytics and Market news from 30 January 2020 11:43](https://feedsoft.ai/events/55253-usd-coronavirus-fears-to-keep-the-dollar-bid-ing-analytics-and-market-news-from.md) | +0.3% | +1.4% |
| DXY | 2016-11-14 | [Nordea has a comprehensive review regarding the dollar. US productivity to play an important role: Analytics and Market news from 14 November 2016 14:45](https://feedsoft.ai/events/74022-nordea-has-a-comprehensive-review-regarding-the-dollar-us-productivity-to-play.md) | +1.4% | +0.8% |
| DXY | 2022-05-17 | [US Dollar Index: Three reasons why DXY is unlikely to peak yet – BofA: Analytics and Market news from 17 May 2022 08:03](https://feedsoft.ai/events/41622-us-dollar-index-three-reasons-why-dxy-is-unlikely-to-peak-yet-bofa-analytics.md) | -1.6% | +0.8% |
| DXY | 2022-01-27 | [USD/MXN at monthly highs above 20.70 as US dollar jumps: Analytics and Market news from 27 January 2022 15:43](https://feedsoft.ai/events/43349-usd-mxn-at-monthly-highs-above-20-70-as-us-dollar-jumps-analytics-and-market.md) | +0.1% | +0.7% |
| DXY | 2023-03-08 | [The U.S. dollar bounces to 2023 high as Fed’s Powell signals higher rates - MarketWatch](https://feedsoft.ai/events/37056-the-u-s-dollar-bounces-to-2023-high-as-fed-s-powell-signals-higher-rates.md) | -0.4% | -1.9% |

## Sources

- teletrade.org: https://www.teletrade.org/analytics/market-analysis/market-news/3707780

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