Dollar Index Hits Fresh High on Fed Rate Hike Expectations

The US Dollar Index (DXY) has surged to 99.57 on September 15, 2026, marking a 0.46% gain over the past 24 hours. This move reverses weeks of improvement in risk markets as expectations for a Federal Reserve rate hike grow ahead of the central bank's September policy meeting.

The dollar's rebound has significant implications for crypto and other risk assets, with the Composite Market Score dropping three points to 23/100, firmly in the 'Defensive' zone. This marks a decline of five points over the past month, driven primarily by macro weakness tied to the dollar's resurgence.

The recent synchronized rally in the crypto market has fizzled out as the dollar strengthened, with the median seven-day return across crypto assets falling back to near zero. Historically, broad rallies of this kind have often marked periods of heightened risk rather than the start of sustained bullish trends.