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Dollar Index Soars as Fed Official Rekindles Rate Hike Speculation

Guavy AI Editorial Team
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USD
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The US Dollar Index rose by 0.4% to 104.20 on Monday after Federal Reserve Governor Kevin Warsh indicated that a September interest rate hike is back on the table.

In a speech at a monetary policy forum, Warsh stated that the central bank should not rule out a rate increase if economic data continues to show resilience.

The Dollar Index has its highest level in two weeks and reflects increased bets on a September move. Market participants had previously priced in a pause in rate hikes for the remainder of the year but Warsh's remarks have forced a reassessment.

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