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fxJul 24, 2026, 3:23 AM

US Dollar Index Holds Near 101.50 on Hawkish Fed Bets Revival

The US Dollar Index maintains gains near 101.50 as rising oil prices and Middle East supply risks revive expectations of a Federal Reserve rate hike.

DXY

The US Dollar Index (DXY) is holding onto gains achieved in the previous session during Asian trading on Friday. The move comes as surging oil prices, driven by heightened energy supply risks in the Middle East, have revived hawkish Federal Reserve rate hike expectations. This supports the dollar's strength against a basket of major currencies.

Source: FXStreet Forex News