# Commentary: Fed still the only hiker in town, but dollar refuses to play ball

> The Federal Reserve raised its benchmark rate on Dec 19, 2018 to 2.25-2.50 percent, its ninth hike of the cycle, and signaled further withdrawal of stimulus in 2019. The dollar fell sharply after the announcement despite the Fed being the only major central bank tightening.

- Date: 2018-12-20 · published 2018-12-20T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/61743-commentary-fed-still-the-only-hiker-in-town-but-dollar-refuses-to-play-ball
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weaker dollar supports US commodity export competitiveness and tends to lift dollar-priced grain and oilseed values, while tighter Fed policy pressures emerging-market currencies that import feed.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-06-26 | [Rand rallies to best level in 7 months as Trump’s Fed comment hits dollar \| News24](https://feedsoft.ai/events/24499-rand-rallies-to-best-level-in-7-months-as-trump-s-fed-comment-hits-dollar-news24.md) | -0.9% | -0.6% |
| DXY | 2017-06-29 | [Dollar's Battle Gets Harder With Fed No Longer Only Hawk in Town - Bloomberg](https://feedsoft.ai/events/70699-dollar-s-battle-gets-harder-with-fed-no-longer-only-hawk-in-town-bloomberg.md) | +0.3% | -1.7% |
| DXY | 2026-06-29 | [US Dollar Index: Fed hikes repriced on softer inflation – Deutsche Bank](https://feedsoft.ai/events/19012-us-dollar-index-fed-hikes-repriced-on-softer-inflation-deutsche-bank.md) | -0.0% | -0.1% |
| DXY | 2022-11-02 | [US dollar falls broadly after the Fed hints at a slower pace of rate hikes](https://feedsoft.ai/events/38845-us-dollar-falls-broadly-after-the-fed-hints-at-a-slower-pace-of-rate-hikes.md) | -1.4% | -4.2% |
| DXY | 2021-01-04 | [Baht rises on dollar sales due to Fed's fiscal policy](https://feedsoft.ai/events/49404-baht-rises-on-dollar-sales-due-to-fed-s-fiscal-policy.md) | -0.0% | +0.9% |
| EURUSD | 2022-11-02 | [US dollar falls broadly after the Fed hints at a slower pace of rate hikes](https://feedsoft.ai/events/38845-us-dollar-falls-broadly-after-the-fed-hints-at-a-slower-pace-of-rate-hikes.md) | +2.2% | +6.4% |
| EURUSD | 2017-06-28 | [Euro sees a roller-coaster ride post-Draghi as dollar bulls start to throw in the towel](https://feedsoft.ai/events/70715-euro-sees-a-roller-coaster-ride-post-draghi-as-dollar-bulls-start-to-throw-in.md) | +0.3% | +2.9% |
| EURUSD | 2019-01-30 | [US Dollar In Sharp Sell-off Vs Euro, Pound As FED Confirms Will Be 'Patient' On Future Hikes](https://feedsoft.ai/events/61288-us-dollar-in-sharp-sell-off-vs-euro-pound-as-fed-confirms-will-be-patient-on.md) | -0.2% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/article/global-markets-dollar/column-fed-still-the-only-hiker-in-town-but-dollar-refuses-to-play-ball-mcgeever-idUSL8N1YP4O5/

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