# Dollar rallies as Fed, COVID-19 and recovery worries swirl | Financial Post

> The dollar rose for a fourth straight day to an eight-week high on Wednesday as US equities fell. Weak euro zone business activity and British economic data fed fears that renewed COVID-19 restrictions would derail the global recovery.

- Date: 2020-09-23 · published 2020-09-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/7695-dollar-rallies-as-fed-covid-19-and-recovery-worries-swirl-financial-post
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Growth worries combined with a firmer dollar reduce demand expectations for commodities and raise the cost of dollar-priced imports for buyers outside the US.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-11-03 | [Copper sags after Fed unnerves investors and dollar rallies \| Financial Post](https://feedsoft.ai/events/38597-copper-sags-after-fed-unnerves-investors-and-dollar-rallies-financial-post.md) | -1.0% | -4.2% |
| DXY | 2021-09-23 | [Gold prices ease as dollar firms on Fed rate hike comments \| Financial Post](https://feedsoft.ai/events/44965-gold-prices-ease-as-dollar-firms-on-fed-rate-hike-comments-financial-post.md) | +1.0% | -0.0% |
| DXY | 2024-06-07 | [Dollar Rallies and Gold Sinks as Fed Rate Cut Hopes Recede](https://feedsoft.ai/events/8477-dollar-rallies-and-gold-sinks-as-fed-rate-cut-hopes-recede.md) | +1.4% | +0.8% |
| DXY | 2020-09-23 | [Currencies slip as dollar gains on safe-haven demand, rand drops 1% \| Financial Post](https://feedsoft.ai/events/51393-currencies-slip-as-dollar-gains-on-safe-haven-demand-rand-drops-1-financial-post.md) | +0.8% | -1.4% |
| DXY | 2021-03-01 | [Dollar gains on reflation trade, Aussie recovers \| Financial Post](https://feedsoft.ai/events/48359-dollar-gains-on-reflation-trade-aussie-recovers-financial-post.md) | +0.8% | +0.8% |
| EURUSD | 2024-06-07 | [Dollar Rallies and Gold Sinks as Fed Rate Cut Hopes Recede](https://feedsoft.ai/events/8477-dollar-rallies-and-gold-sinks-as-fed-rate-cut-hopes-recede.md) | -1.2% | -0.4% |
| EURUSD | 2021-03-01 | [Dollar gains on reflation trade, Aussie recovers \| Financial Post](https://feedsoft.ai/events/48359-dollar-gains-on-reflation-trade-aussie-recovers-financial-post.md) | -1.5% | -2.4% |
| EURUSD | 2020-09-17 | [Dollar edges higher as Fed outlook lifts U.S. yields \| Financial Post](https://feedsoft.ai/events/7697-dollar-edges-higher-as-fed-outlook-lifts-u-s-yields-financial-post.md) | -1.3% | -1.1% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/dollar-rallies-as-fed-covid-19-and-recovery-worries-swirl

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