# Dollar surges to two-month high on Fed rate-hike projection

> The dollar index hit a two-month high after Fed officials projected earlier interest rate hikes and an earlier end to emergency bond buying. The dollar had posted its largest daily gain since March 2020 the previous day.

- Date: 2021-06-17 · published 2021-06-17T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/5930-dollar-surges-to-two-month-high-on-fed-rate-hike-projection
- 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 on earlier Fed tightening pressures dollar-priced agricultural commodities and raises costs for importers of feed ingredients.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2021-06-17 | 1 | +1.3% | 5.6 | Dollar index hit a two-month high on June 17 after the Fed projected earlier hikes and tapering, directly explaining the 1.31% broad dollar move. |
| SOY | 2021-06-16 | 1 | -8.2% | -7.1 | The dollar had its largest daily gain since March 2020 on June 16 after the hawkish Fed, which weighs on dollar-priced soybean export competitiveness and triggers fund selling. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-06-24 | [U.S. dollar rises to 13-month high on Fed rate hike views](https://feedsoft.ai/events/11992-u-s-dollar-rises-to-13-month-high-on-fed-rate-hike-views.md) | -0.1% | -0.4% |
| DXY | 2026-06-24 | [US dollar strengthens to 13-month high on Fed rate hike expectations \| Reuters](https://feedsoft.ai/events/11985-us-dollar-strengthens-to-13-month-high-on-fed-rate-hike-expectations-reuters.md) | -0.1% | -0.4% |
| DXY | 2016-10-11 | [Dollar climbs to 7-month peak on rate hike bets; pound plunges](https://feedsoft.ai/events/5892-dollar-climbs-to-7-month-peak-on-rate-hike-bets-pound-plunges.md) | +0.2% | +0.2% |
| DXY | 2022-10-31 | [Dollar gains on Fed rate hike expectations](https://feedsoft.ai/events/39325-dollar-gains-on-fed-rate-hike-expectations.md) | -0.1% | -2.8% |
| DXY | 2016-11-14 | [Dollar surges to 11-month high as bond rout persists](https://feedsoft.ai/events/7743-dollar-surges-to-11-month-high-as-bond-rout-persists.md) | +1.4% | +0.8% |
| CORN | 2016-12-16 | [Dollar near 14-year highs after Fed tips more rate hikes](https://feedsoft.ai/events/6461-dollar-near-14-year-highs-after-fed-tips-more-rate-hikes.md) | -3.0% | -0.2% |
| CORN | 2026-10-14 | [Dollar hits fresh 18-month high as hot inflation boosts Fed hike expectation](https://feedsoft.ai/events/649-dollar-hits-fresh-18-month-high-as-hot-inflation-boosts-fed-hike-expectation.md) | -1.8% | — |
| CORN | 2023-04-17 | [Dollar rebounds on higher expectations for Fed hike in May \| IBTimes UK](https://feedsoft.ai/events/36609-dollar-rebounds-on-higher-expectations-for-fed-hike-in-may-ibtimes-uk.md) | -1.9% | -3.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/06/17/forex-markets-dollar-us-federal-reserve.html

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