The dollar index rose to a near eight-week high as markets priced further Fed tightening. LSEG shows a 53% probability of a Fed rate hike in October and 78 bps of cumulative tightening priced by Sep 2027. Those rate expectations outweighed oil’s retreat on hopes of de-escalation in the Middle East.

2026-09-23

The dollar index rose to a near eight-week high as markets priced further Fed tightening. LSEG shows a 53% probability of a Fed rate hike in October and 78 bps of cumulative tightening priced by Sep 2027. Those rate expectations outweighed oil’s retreat on hopes of de-escalation in the Middle East.