# Dollar climbs to 3-week peak vs yen on US tax reform prospects

> The dollar rose to a three-week high against the yen after the US Senate approved a major tax overhaul over the weekend. The bill would cut business taxes and add about $1.4 trillion to deficits over ten years, with House and Senate talks expected to reconcile versions.

- Date: 2017-12-04 · published 2017-12-04T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/67695-dollar-climbs-to-3-week-peak-vs-yen-on-us-tax-reform-prospects
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of faster Fed rate hikes support the dollar, which can lift USD-denominated grain and oilseed prices less and make US exports pricier for buyers in other currencies. Feed buyers in dollar-linked markets should watch for currency-driven shifts in import costs.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-05-14 | [Dollar climbs to 3-week peak; US jobs data shrugged off](https://feedsoft.ai/events/53333-dollar-climbs-to-3-week-peak-us-jobs-data-shrugged-off.md) | -1.2% | -3.5% |
| DXY | 2024-10-14 | [US dollar climbs to 10-week peak; euro, China's yuan fall](https://feedsoft.ai/events/11042-us-dollar-climbs-to-10-week-peak-euro-china-s-yuan-fall.md) | +1.2% | +3.1% |
| 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 | 2022-04-19 | [U.S. dollar rockets to 20-year peak vs yen on Fed, BOJ policy difference](https://feedsoft.ai/events/42035-u-s-dollar-rockets-to-20-year-peak-vs-yen-on-fed-boj-policy-difference.md) | +1.5% | +3.3% |
| DXY | 2023-10-02 | [Oil tumbles 2% to 3-week low on strong dollar, profit taking](https://feedsoft.ai/events/7365-oil-tumbles-2-to-3-week-low-on-strong-dollar-profit-taking.md) | +0.9% | +0.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/12/03/forex-us-senate-tax-bill-passage-upcoming-may-juncker-meeting-in-focus.html

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