Dollar Index Soars as Fed Signals Further Rate Hikes

The US Dollar Index (DXY) extended its winning streak for the sixth consecutive day, trading around 100.30 during Asian hours on Thursday.

This comes after the Federal Reserve raised the federal funds rate by 25 basis points to a target range of 3.75% to 4.00%, matching market expectations and representing the Fed's first interest rate increase in three years.

Fed Chair Kevin Warsh signaled that further rate increases remain on the table, driven by inflation remaining 'too high' and lingering for too long.