# Dollar approaches 20-year highs, Fed meeting in focus

> The dollar traded near a 20-year high against a basket of currencies ahead of an expected Fed rate hike. Markets expected a 50 basis point increase and a balance sheet reduction plan at the Wednesday meeting, while the yen held near 20-year lows.

- Date: 2022-05-03 · published 2022-05-03T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8314-dollar-approaches-20-year-highs-fed-meeting-in-focus
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A stronger dollar and tighter US policy lower dollar-denominated commodity prices and raise import costs for buyers abroad, generally bearish for grain and meal.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-09-30 | [Dollar near one-year high as Fed tightening in focus \| Reuters](https://feedsoft.ai/events/45253-dollar-near-one-year-high-as-fed-tightening-in-focus-reuters.md) | +0.0% | -1.1% |
| DXY | 2024-03-19 | [Gold loses footing as US dollar rises; Fed in focus](https://feedsoft.ai/events/31101-gold-loses-footing-as-us-dollar-rises-fed-in-focus.md) | +0.4% | +1.5% |
| DXY | 2026-05-26 | [US Dollar: Higher yields and data keep Fed repricing in focus – MUFG](https://feedsoft.ai/events/19468-us-dollar-higher-yields-and-data-keep-fed-repricing-in-focus-mufg.md) | -0.1% | +1.5% |
| DXY | 2016-12-16 | [Dollar near 14-year highs after Fed tips more rate hikes](https://feedsoft.ai/events/6461-dollar-near-14-year-highs-after-fed-tips-more-rate-hikes.md) | +0.0% | -1.3% |
| DXY | 2018-11-12 | [Forex market: Fed, Brexit and dollar in focus](https://feedsoft.ai/events/62251-forex-market-fed-brexit-and-dollar-in-focus.md) | -0.4% | -0.2% |
| CORN | 2016-12-16 | [Dollar near 14-year highs after Fed tips more rate hikes](https://feedsoft.ai/events/6461-dollar-near-14-year-highs-after-fed-tips-more-rate-hikes.md) | -3.0% | -0.2% |
| CORN | 2022-05-05 | [Dollar index hits 20-year high, sterling tumbles on dovish BoE](https://feedsoft.ai/events/8318-dollar-index-hits-20-year-high-sterling-tumbles-on-dovish-boe.md) | +6.2% | +0.4% |
| CORN | 2022-07-12 | [Dollar rises to 20-year highs, sends grains lower – The Seam](https://feedsoft.ai/events/5974-dollar-rises-to-20-year-highs-sends-grains-lower-the-seam.md) | -13.6% | -16.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/05/03/dollar-approaches-20-year-highs-fed-meeting-in-focus.html

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