# Dollar rises to highest in a month - Moneyweb

> The Bloomberg dollar gauge rose nearly 0.8% on June 7, 2024 to its highest level in more than a month. Strong US payrolls pushed out expectations for a Fed rate cut to December at the earliest. The dollar was on course for a third weekly gain.

- Date: 2024-06-07 · published 2024-06-07T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/8476-dollar-rises-to-highest-in-a-month-moneyweb
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of higher US rates for longer strengthen the dollar and lift the cost of dollar-priced feed imports for importing countries. Commodity prices often fall in response.

## Read by commodity

- DXY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2024-06-07 | 1 | +1.0% | 3.8 | The Bloomberg dollar gauge hit a one-month high as payrolls pushed Fed cut expectations out to December, confirming the rate-expectations mechanism. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-11-09 | [Dollar rises vs yen to highest since July 27](https://feedsoft.ai/events/74083-dollar-rises-vs-yen-to-highest-since-july-27.md) | +3.1% | +3.3% |
| DXY | 2023-03-08 | [Powell pushes dollar to three-month high](https://feedsoft.ai/events/37123-powell-pushes-dollar-to-three-month-high.md) | -0.4% | -1.9% |
| DXY | 2026-06-24 | [U.S. dollar rises to 13-month high on Fed rate hike views](https://feedsoft.ai/events/11992-u-s-dollar-rises-to-13-month-high-on-fed-rate-hike-views.md) | -0.1% | -0.4% |
| DXY | 2021-10-25 | [Dollar rises from one-month low on prospect of higher interest rates \| Reuters](https://feedsoft.ai/events/7163-dollar-rises-from-one-month-low-on-prospect-of-higher-interest-rates-reuters.md) | +0.4% | +1.7% |
| DXY | 2024-02-13 | [US dollar rises to three-month high after inflation data, surges past 150 yen](https://feedsoft.ai/events/31870-us-dollar-rises-to-three-month-high-after-inflation-data-surges-past-150-yen.md) | +0.1% | -0.6% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/dollar-rises-to-highest-in-a-month/

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