# US dollar and bitcoin advance spurred by Trump tariff expectations

> The dollar index rose to a 6.5-month high and bitcoin hit a record high as traders priced in Trump's tariff promises. The move reflects expectations that tariffs and tax cuts will keep US rates high.

- Date: 2024-11-12 · published 2024-11-12T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/6698-us-dollar-and-bitcoin-advance-spurred-by-trump-tariff-expectations
- 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 stronger dollar makes US grain and meal exports more expensive for foreign buyers and tends to weigh on commodity prices priced in dollars.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2024-11-12 | 1 | +1.0% | 3.1 | Same-day report of the dollar index at a 6.5-month high as traders priced in Trump tariffs and tax cuts that would keep US rates high, directly describing the 11/12 move. |
| DXY | 2024-11-13 | 5 | +1.9% | 2.8 | Dollar index hit a 6.5-month high on Nov 12 as tariff and tax-cut expectations supported higher US rates. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-11-06 | [US shares, Bitcoin hit record high and dollar soars on Trump win](https://feedsoft.ai/events/9520-us-shares-bitcoin-hit-record-high-and-dollar-soars-on-trump-win.md) | +1.9% | +1.5% |
| DXY | 2016-11-10 | [Dollar rises as Trump victory raises inflation expectations](https://feedsoft.ai/events/5470-dollar-rises-as-trump-victory-raises-inflation-expectations.md) | +1.9% | +2.3% |
| DXY | 2019-11-27 | [AUD/USD: Dollar Rallies As US GDP Beats Expectations - Currency Live](https://feedsoft.ai/events/56326-aud-usd-dollar-rallies-as-us-gdp-beats-expectations-currency-live.md) | -0.3% | -1.6% |
| DXY | 2025-01-31 | [Dollar advances after White House reiterates Trump tariff threats](https://feedsoft.ai/events/26698-dollar-advances-after-white-house-reiterates-trump-tariff-threats.md) | +0.1% | +0.1% |
| DXY | 2026-08-26 | [U.S. data buoys dollar as Fed hike expectations nudged higher](https://feedsoft.ai/events/18082-u-s-data-buoys-dollar-as-fed-hike-expectations-nudged-higher.md) | +0.4% | +1.6% |
| CORN | 2025-01-31 | [Dollar advances after White House reiterates Trump tariff threats](https://feedsoft.ai/events/26698-dollar-advances-after-white-house-reiterates-trump-tariff-threats.md) | +0.5% | -3.5% |
| CORN | 2022-06-20 | [US dollar to remain resilient amid the re-pricing higher in Fed's rate expectations – ING — Octa](https://feedsoft.ai/events/41145-us-dollar-to-remain-resilient-amid-the-re-pricing-higher-in-fed-s-rate.md) | -3.7% | -11.8% |
| CORN | 2024-12-31 | [Dollar stands tall in 2024, propped up by cautious Fed, Trump trade](https://feedsoft.ai/events/27182-dollar-stands-tall-in-2024-propped-up-by-cautious-fed-trump-trade.md) | +1.4% | +5.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-soars-with-bitcoin-trump-trade-ramps-up-euro-yuan-battered-2024-11-12/

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