The post DXY touches 15-week high before fading into the close appeared on BitcoinEthereumNews.com.

The US Dollar Index (DXY) slipped about 0.2% on Monday after touching a 15-week high near 99.70 in the early session. The index gapped higher at the open before sellers stepped in, pushing price back toward the 99.00 area by the close and leaving a long upper wick on the daily candle. The reversal came after a sharp rally from the late-January lows close to 95.56, with the index gaining roughly four points in six weeks as safe-haven demand and shifting rate expectations lifted the Greenback. The US Dollar (USD) has been the primary beneficiary of the Strait of Hormuz crisis, with traders viewing the US as relatively insulated from the supply shock given its energy independence. Rate cut expectations have been scaled back sharply over the past week; markets now price only one 25 basis point cut from the Federal Reserve (Fed) this year, likely in September, compared with two cuts expected before the conflict began. The Fed is holding rates at 3.50% to 3.75%, and January Federal Open Market Committee (FOMC) minutes showed several officials discussed the possibility of hiking rates if inflation stays above target. Wednesday’s February Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS) is the week’s marquee event, with headline CPI expected at 0.3% MoM and 2.4% YoY. The energy price shock from the Hormuz closure began in the final days of February and is unlikely to be fully captured in this print, though any upside surprise would further cement the hawkish repricing. Friday’s slate is equally dense: January core Personal Consumption Expenditures Price Index (PCE) is forecast at 0.4% MoM and 3% YoY; preliminary fourth-quarter Gross Domestic Product (GDP) is expected at 1.4% annualized; and the University of Michigan (UoM) March consumer sentiment index is forecast to drop to 55…

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Filed under: News - @ March 9, 2026 8:23 pm