# Dollar buckles on US disinflation signs as Fed nears end of hiking cycle

> The dollar index fell 0.8% to about 99.74, its lowest since April 2022, after US CPI came in softer than expected. The euro rose to a 16-month high and the dollar hit an eight-year low against the Swiss franc.

- Date: 2023-07-13 · published 2023-07-13T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/9978-dollar-buckles-on-us-disinflation-signs-as-fed-nears-end-of-hiking-cycle
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Expectations of only one more Fed hike weaken the dollar's yield advantage, which tends to support commodity prices priced in dollars. Lower import costs in other currencies can also support demand for US feed exports.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-04 | [Dollar slumps after weak data, markets bet Fed nears end of hiking cycle](https://feedsoft.ai/events/36647-dollar-slumps-after-weak-data-markets-bet-fed-nears-end-of-hiking-cycle.md) | +0.4% | +0.1% |
| DXY | 2024-02-12 | [US Dollar: A Week of Disinflation Tests \| Investing.com UK](https://feedsoft.ai/events/31887-us-dollar-a-week-of-disinflation-tests-investing-com-uk.md) | +0.1% | -0.8% |
| DXY | 2020-08-28 | [Dollar slides as bond market signals rising inflation angst](https://feedsoft.ai/events/51789-dollar-slides-as-bond-market-signals-rising-inflation-angst.md) | -0.5% | +1.0% |
| DXY | 2026-06-29 | [US Dollar Index: Fed hikes repriced on softer inflation – Deutsche Bank](https://feedsoft.ai/events/19012-us-dollar-index-fed-hikes-repriced-on-softer-inflation-deutsche-bank.md) | -0.0% | -0.1% |
| DXY | 2019-10-30 | [Dollar dips as Fed signals pause in rate-cutting cycle](https://feedsoft.ai/events/56773-dollar-dips-as-fed-signals-pause-in-rate-cutting-cycle.md) | +0.1% | +1.0% |
| EURUSD | 2026-07-31 | [US Dollar: Post-Fed losses extend as positioning unwinds – ING](https://feedsoft.ai/events/8421-us-dollar-post-fed-losses-extend-as-positioning-unwinds-ing.md) | -0.0% | +1.1% |
| EURUSD | 2019-01-30 | [US Dollar In Sharp Sell-off Vs Euro, Pound As FED Confirms Will Be 'Patient' On Future Hikes](https://feedsoft.ai/events/61288-us-dollar-in-sharp-sell-off-vs-euro-pound-as-fed-confirms-will-be-patient-on.md) | -0.2% | -0.4% |
| EURUSD | 2020-08-31 | [Dollar hits two-year low, fourth month of losses on Fed inflation mandate](https://feedsoft.ai/events/51844-dollar-hits-two-year-low-fourth-month-of-losses-on-fed-inflation-mandate.md) | -0.7% | -2.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/07/13/dollar-takes-a-beating-as-traders-see-us-rates-peaking.html

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