# Dollar near 14-year highs after Fed tips more rate hikes

> The dollar traded near 14-year highs against the euro and a basket of currencies on December 16, 2016, on expectations of more Federal Reserve rate hikes in 2017. The Fed had raised rates 25 basis points and projected three hikes next year instead of two.

- Date: 2016-12-16 · published 2016-12-16T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/6461-dollar-near-14-year-highs-after-fed-tips-more-rate-hikes
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A strong dollar makes US commodity exports more expensive abroad and tends to pressure dollar-denominated grain and meal prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-12-15 | [Dollar charges higher after Fed hikes rates](https://feedsoft.ai/events/6465-dollar-charges-higher-after-fed-hikes-rates.md) | +1.6% | +1.1% |
| DXY | 2024-12-18 | [Dollar index hits two-year high after Fed delivers rate cut](https://feedsoft.ai/events/26849-dollar-index-hits-two-year-high-after-fed-delivers-rate-cut.md) | +0.7% | +1.5% |
| DXY | 2016-12-16 | [Dollar near 14-year peak as Fed targets more hikes, Treasury yields jump](https://feedsoft.ai/events/5967-dollar-near-14-year-peak-as-fed-targets-more-hikes-treasury-yields-jump.md) | +0.0% | -1.3% |
| DXY | 2018-06-13 | [Dollar mostly firmer as Fed sees more U.S. rate hikes \| Reuters](https://feedsoft.ai/events/64708-dollar-mostly-firmer-as-fed-sees-more-u-s-rate-hikes-reuters.md) | +1.3% | +0.6% |
| DXY | 2023-07-01 | [Oil drops 1.5% as Fed projects more rate hikes this year](https://feedsoft.ai/events/35655-oil-drops-1-5-as-fed-projects-more-rate-hikes-this-year.md) | -0.3% | -1.3% |
| CORN | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | -2.3% | +2.5% |
| CORN | 2016-12-14 | [Fed surprises with three rate hikes next year — and could need more](https://feedsoft.ai/events/6464-fed-surprises-with-three-rate-hikes-next-year-and-could-need-more.md) | -2.5% | -0.4% |
| CORN | 2016-12-14 | [U.S. bond yields, dollar gain, stocks fall after Fed rate hike](https://feedsoft.ai/events/73367-u-s-bond-yields-dollar-gain-stocks-fall-after-fed-rate-hike.md) | -2.5% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/article/global-forex-idUSL4N1EB03E/?feedName=usDollarRpt&feedType=RSS

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