# Politics can still shock the dollar

> The dollar surged nearly 2% against major currencies after Trump's win over Kamala Harris. The move marked the dollar's biggest one-day rise in more than eight years.

- Date: 2024-11-06 · published 2024-11-06T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/9519-politics-can-still-shock-the-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharp dollar rally lifts the cost of US commodities for importers and tends to pressure grain and oilseed prices in dollar terms.

## Read by commodity

- DXY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2024-11-06 | 1 | +0.9% | 3.6 | Describes the dollar's largest one-day rise in over eight years after Trump's win, the same event as the move. |
| DXY | 2024-11-13 | 5 | +1.9% | 2.8 | Dollar rose nearly 2% on Trump's win, its biggest one-day rise in over eight years, directly driving the broad index gain. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-22 | [The Dollar Still Has Plenty of Swagger](https://feedsoft.ai/events/34311-the-dollar-still-has-plenty-of-swagger.md) | +0.8% | +1.7% |
| DXY | 2018-04-27 | [And The U.S. Dollar?](https://feedsoft.ai/events/65691-and-the-u-s-dollar.md) | +0.7% | +1.9% |
| DXY | 2022-07-01 | [Why has the dollar been so strong – and can it continue?](https://feedsoft.ai/events/40856-why-has-the-dollar-been-so-strong-and-can-it-continue.md) | +1.2% | +0.7% |
| DXY | 2020-03-17 | [COVID-19 and the US dollar](https://feedsoft.ai/events/54308-covid-19-and-the-us-dollar.md) | +4.3% | +1.3% |
| DXY | 2023-05-26 | [Hard to short the dollar at 5% yield \| Convera](https://feedsoft.ai/events/36158-hard-to-short-the-dollar-at-5-yield-convera.md) | -0.7% | -1.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/politics-can-still-shock-dollar-mcgeever-2024-11-06/

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