Dollar Rises Amid Fed Rate Hike Anticipation

The US dollar rose as investors anticipated a Federal Reserve interest rate hike this week. The DXY dollar index increased by 0.3% to 99.683, hitting a one-month high of 99.736 on Monday.

Nomura analysts expect the Reserve Bank of India to raise rates in October and December, with a shallow rate-hiking cycle. Consumer prices rose 4.8% year-over-year in August from 4.5% in July, while core inflation accelerated to 4.2% from 3.9%.

The Treasury Secretary reiterated his support for the crypto Clarity Act ahead of a key Senate vote. The act's final draft furthers the administration's mission of enabling digital technology while supporting community banks, according to Bessent.