# Dollar faces pressure as markets expect another Fed rate hike in December

> The dollar started the week cautiously as markets price a 69.8% probability of a 25-basis-point Fed rate hike in December, taking rates to 4.00%-4.25%. Analysts pointed to Middle East tensions, new attacks on vessels in the Strait of Hormuz that lifted oil prices, and a US third-quarter GDP beat.

- Date: 2026-11-02 · published 2026-11-03T00:11:38.459Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/76447-dollar-faces-pressure-as-markets-expect-another-fed-rate-hike-in-december
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher US rates and a firmer dollar tend to weigh on dollar-priced commodities and on emerging-market currencies, while stronger oil prices raise energy and freight costs for feed supply chains.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-10-29 | [December Rate Hike Expectations and Expensive Oil: The Dollar Is Back on Top \| Investing.com](https://feedsoft.ai/events/17043-december-rate-hike-expectations-and-expensive-oil-the-dollar-is-back-on-top.md) | -2.3% | — |
| WTI | 2021-11-05 | [Canadian dollar steadies as jobs gain supports rate hike bets - Markets - Business Recorder](https://feedsoft.ai/events/44268-canadian-dollar-steadies-as-jobs-gain-supports-rate-hike-bets-markets-business.md) | +3.4% | -15.9% |
| WTI | 2023-04-17 | [Indian rupee declines as dollar jumps on Fed policy reassessment - Markets - Business Recorder](https://feedsoft.ai/events/36659-indian-rupee-declines-as-dollar-jumps-on-fed-policy-reassessment-markets.md) | -5.7% | -15.2% |
| WTI | 2025-10-29 | [Newsquawk US Market Wrap: Dollar and yields rally as Powell pushes back against December rate cut \| Newsquawk](https://feedsoft.ai/events/22321-newsquawk-us-market-wrap-dollar-and-yields-rally-as-powell-pushes-back-against.md) | +0.7% | -4.2% |
| WTI | 2026-05-15 | [Dollar climbs for fifth straight day as Fed rate hike bets grow](https://feedsoft.ai/events/19469-dollar-climbs-for-fifth-straight-day-as-fed-rate-hike-bets-grow.md) | -4.4% | -15.6% |
| DXY | 2022-01-27 | [Dollar jumps as markets brace for larger, faster rate hikes \| Reuters](https://feedsoft.ai/events/6268-dollar-jumps-as-markets-brace-for-larger-faster-rate-hikes-reuters.md) | +0.1% | +0.7% |
| DXY | 2022-10-31 | [Dollar gains on Fed rate hike expectations](https://feedsoft.ai/events/39325-dollar-gains-on-fed-rate-hike-expectations.md) | -0.1% | -2.8% |
| DXY | 2021-05-12 | [Eurodollar futures price in Fed hike by December 2022 after inflation spike](https://feedsoft.ai/events/47286-eurodollar-futures-price-in-fed-hike-by-december-2022-after-inflation-spike.md) | -0.1% | -0.3% |

## Sources

- andina.pe: https://andina.pe/agencia/noticia-dolar-enfrenta-presiones-ante-expectativa-nueva-alza-tasas-de-fed-diciembre-1098302.aspx
- notiperu.com.pe: https://www.notiperu.com.pe/economia/noticia-peru-dolar-enfrenta-presiones-expectativa-nueva-alza-tasas-fed-diciembre-20261102221448.html

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