# FX Daily: The mother of all corrections | ING THINK

> The dollar index fell about 4% in a single week, one of the largest weekly drops in its history. The decline reflected a short squeeze after dollar ownership had been crowded, combined with softer U.S. core CPI and Chinese support measures. Analysts see the correction possibly extending to around 105 from 106.90.

- Date: 2022-11-14 · published 2022-11-14T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7561-fx-daily-the-mother-of-all-corrections-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharp dollar decline lowers the local-currency cost of U.S. feed commodities for importers and can lift dollar-denominated prices, though the move may be partly positioning-driven and reverse.

## Read by commodity

- DXY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2022-11-14 | 5 | -2.9% | -4.2 | Describes the roughly 4% weekly dollar index drop as a short squeeze plus soft CPI and China support, directly characterizing the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-12-14 | [FX Daily: Fed brings tidings of comfort and joy \| articles \| ING THINK](https://feedsoft.ai/events/8299-fx-daily-fed-brings-tidings-of-comfort-and-joy-articles-ing-think.md) | -1.3% | -1.3% |
| DXY | 2023-11-21 | [FX Daily: Renminbi shorts on the run \| articles \| ING THINK](https://feedsoft.ai/events/12028-fx-daily-renminbi-shorts-on-the-run-articles-ing-think.md) | -0.6% | -0.7% |
| DXY | 2025-05-30 | [FX Daily: Softer US spending weighs on the dollar \| ING THINK](https://feedsoft.ai/events/24860-fx-daily-softer-us-spending-weighs-on-the-dollar-ing-think.md) | -0.5% | -1.6% |
| DXY | 2024-01-24 | [FX Daily: Unwinding the spurious dollar rally \| articles \| ING THINK](https://feedsoft.ai/events/32330-fx-daily-unwinding-the-spurious-dollar-rally-articles-ing-think.md) | -0.4% | -0.1% |
| DXY | 2018-01-29 | [G10 FX Week Ahead: State of the dollar \| ING THINK](https://feedsoft.ai/events/67209-g10-fx-week-ahead-state-of-the-dollar-ing-think.md) | +0.4% | +1.0% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-the-mother-of-all-corrections/

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