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fxJul 1, 2026, 5:06 AM

US Dollar Index Strengthens Above 101.00 on Fed Rate Hike Bets

The US Dollar Index (DXY) has risen above the 101.00 mark, trading near 101.30 in early European hours, as traders increase expectations of a Federal Reserve rate hike.

DXY

The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, has strengthened above the 101.00 level, currently trading around 101.30 during early European trading hours.

The move comes as market participants ramp up bets on another Federal Reserve rate hike, reflecting expectations of tighter monetary policy. The index's gain indicates broad dollar strength against its peers.

Source: FXStreet Forex News