# Dollar index hits 20-year high, sterling tumbles on dovish BoE

> The dollar hit a 20-year high against a basket of currencies on Thursday as a sharp stock selloff boosted safe-haven demand and the Fed was seen tightening more than peers. Sterling fell after a dovish Bank of England signal.

- Date: 2022-05-05 · published 2022-05-05T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8318-dollar-index-hits-20-year-high-sterling-tumbles-on-dovish-boe
- 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 broad dollar rally tends to lower dollar-denominated grain and meal prices and reduce import affordability for feed buyers abroad.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-28 | [Dollar hits 20-yr high as yen tumbles on dovish Bank of Japan](https://feedsoft.ai/events/8288-dollar-hits-20-yr-high-as-yen-tumbles-on-dovish-bank-of-japan.md) | +0.1% | -0.4% |
| DXY | 2016-11-16 | [Dollar index surges to 14-year high](https://feedsoft.ai/events/8327-dollar-index-surges-to-14-year-high.md) | +0.6% | -0.0% |
| 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 | 2022-10-19 | [Dollar gains with Treasury yields, sterling tumbles on hot inflation](https://feedsoft.ai/events/39400-dollar-gains-with-treasury-yields-sterling-tumbles-on-hot-inflation.md) | -0.4% | -3.6% |
| DXY | 2022-04-25 | [U.S. dollar rises to two-year high; yuan tumbles \| Reuters](https://feedsoft.ai/events/4945-u-s-dollar-rises-to-two-year-high-yuan-tumbles-reuters.md) | +1.2% | +1.1% |
| CORN | 2022-04-28 | [Dollar index hits highest level since 2002](https://feedsoft.ai/events/42070-dollar-index-hits-highest-level-since-2002.md) | -7.5% | -2.6% |
| CORN | 2016-11-14 | [Dollar hits 13-1/2 year high, U.S. bond yields gain on Trump stimulus bets](https://feedsoft.ai/events/8328-dollar-hits-13-1-2-year-high-u-s-bond-yields-gain-on-trump-stimulus-bets.md) | -3.6% | -0.7% |
| CORN | 2016-11-16 | [Dollar hits 14-year high as Trump-fuelled bond sell-off resumes](https://feedsoft.ai/events/9131-dollar-hits-14-year-high-as-trump-fuelled-bond-sell-off-resumes.md) | +2.5% | +3.3% |

## Sources

- reuters.com: https://www.reuters.com/business/dollar-recoils-fed-douses-hawkish-bets-2022-05-05/

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