# Asia FX sinks as hawkish Fed jitters offset China COVID hopes By Investing.com

> Most Asian currencies slipped on Tuesday as fears of higher U.S. interest rates offset optimism over China's easing of COVID testing rules. The yuan fell 0.3% to 6.9813 per dollar, and the dollar index held near 105.30 after a rally the prior session. Strong U.S. factory orders and jobs data fueled concerns about sticky inflation.

- Date: 2022-12-05 · published 2022-12-05T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/6577-asia-fx-sinks-as-hawkish-fed-jitters-offset-china-covid-hopes-by-investing-com
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer dollar on higher U.S. rate expectations raises the local-currency cost of dollar-priced feed imports across Asia. This can weigh on regional buying of commodities.

## Read by commodity

- DXY: bullish ▲
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-06-18 | [Dollar Rallies on Fed’s Hawkish Hold; BoE Awaited \| Investing.com](https://feedsoft.ai/events/19063-dollar-rallies-on-fed-s-hawkish-hold-boe-awaited-investing-com.md) | +1.4% | +1.0% |
| DXY | 2026-09-17 | [Fed Delivers Hawkish Hike, Dollar Rallies but Gold Recovers \| Investing.com](https://feedsoft.ai/events/17386-fed-delivers-hawkish-hike-dollar-rallies-but-gold-recovers-investing-com.md) | +1.0% | +2.2% |
| DXY | 2026-06-18 | [Fed Holds Rates, New Chair Leans Hawkish, Gold Down but Not Out \| Investing.com](https://feedsoft.ai/events/18709-fed-holds-rates-new-chair-leans-hawkish-gold-down-but-not-out-investing-com.md) | +1.4% | +1.0% |
| DXY | 2026-06-25 | [BofA cuts euro forecasts, sees stronger dollar in second half on hawkish Fed By Investing.com](https://feedsoft.ai/events/19032-bofa-cuts-euro-forecasts-sees-stronger-dollar-in-second-half-on-hawkish-fed-by.md) | -0.2% | -0.4% |
| DXY | 2017-10-02 | [Asia FX falters as dollar gains offset upbeat China news](https://feedsoft.ai/events/68728-asia-fx-falters-as-dollar-gains-offset-upbeat-china-news.md) | +0.6% | +1.6% |
| USDCNY | 2020-01-27 | [Asia Wrap:"Risk-Off" Dash And Brexit Ahead \| Investing.com](https://feedsoft.ai/events/55362-asia-wrap-risk-off-dash-and-brexit-ahead-investing-com.md) | 0.0% | +1.6% |
| USDCNY | 2022-01-06 | [China's yuan eases on hawkish Fed, warning of depreciation pressure \| Reuters](https://feedsoft.ai/events/43356-china-s-yuan-eases-on-hawkish-fed-warning-of-depreciation-pressure-reuters.md) | -0.1% | -0.0% |
| USDCNY | 2023-03-02 | [China’s yuan weakens on Fed official’s hawkish comments - Markets - Business Recorder](https://feedsoft.ai/events/37094-china-s-yuan-weakens-on-fed-official-s-hawkish-comments-markets-business.md) | +1.2% | +0.3% |

## Sources

- ca.investing.com: https://ca.investing.com/news/forex-news/asia-fx-sinks-as-hawkish-fed-jitters-offset-china-covid-hopes-2848637

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