Dollar Edges Higher on Hawkish CPI Report

The US Dollar Index (DXY) has hovered around 99.13 following a hawkish U.S. Consumer Price Index (CPI) report.

Despite testing lower structural support zones, the index mounted a modest technical bounce and edged slightly higher.

A recent CPI read showed that annual headline inflation has cooled compared to prior multi-year peaks, but stubborn core pressures have prevented the greenback from undergoing a deeper sell-off.

The DXY is generally confined within a broader consolidation channel, with immediate resistance stacked near the 99.40-99.50 threshold and support at 98.80-98.55.