# Dollar surge leaves trail of destruction

> The US dollar has gained about 8% this year against a basket of currencies. Traders are betting the Federal Reserve will raise interest rates faster and further than other developed-market central banks, and the dollar is also benefiting from its safe-haven status during market turbulence.

- Date: 2022-04-29 · published 2022-04-29T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/7373-dollar-surge-leaves-trail-of-destruction
- 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 commodity exports more expensive for foreign buyers and tends to pressure dollar-denominated grain and meal prices. It also raises the cost of imported feed ingredients for buyers in weaker-currency countries.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-11-13 | [Dollar hits one-year high on Trump trades](https://feedsoft.ai/events/7556-dollar-hits-one-year-high-on-trump-trades.md) | -0.3% | +0.1% |
| DXY | 2016-11-17 | [A Primer on the Dollar's Surge - Bloomberg](https://feedsoft.ai/events/8326-a-primer-on-the-dollar-s-surge-bloomberg.md) | +1.1% | +1.7% |
| DXY | 2021-06-17 | [Dollar surges to two-month high on Fed rate-hike projection](https://feedsoft.ai/events/5930-dollar-surges-to-two-month-high-on-fed-rate-hike-projection.md) | +1.1% | +1.7% |
| DXY | 2016-11-09 | [Dollar surges most since Brexit after Trump election surprise (VIDEO) \| Malay Mail](https://feedsoft.ai/events/8180-dollar-surges-most-since-brexit-after-trump-election-surprise-video-malay-mail.md) | +3.1% | +3.3% |
| DXY | 2021-08-11 | [Dollar hits highest since April ahead of inflation test](https://feedsoft.ai/events/45778-dollar-hits-highest-since-april-ahead-of-inflation-test.md) | +0.1% | -0.2% |
| CORN | 2021-06-17 | [Dollar surges to two-month high on Fed rate-hike projection](https://feedsoft.ai/events/5930-dollar-surges-to-two-month-high-on-fed-rate-hike-projection.md) | -2.4% | +2.5% |
| CORN | 2022-05-05 | [Dollar surges to 2-decade high as investors seek refuge \| AP News](https://feedsoft.ai/events/8316-dollar-surges-to-2-decade-high-as-investors-seek-refuge-ap-news.md) | +6.2% | +0.4% |
| CORN | 2021-12-30 | [Dollar on track for best year since 2015](https://feedsoft.ai/events/43836-dollar-on-track-for-best-year-since-2015.md) | +2.1% | +4.4% |

## Sources

- reuters.com: https://www.reuters.com/business/dollar-surge-leaves-trail-destruction-2022-04-29/

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