Dollar Stagnation: US Currency Hits Four-Week Plateau

The US dollar has been stuck in a narrow range for four weeks, hovering around 99.07 on the Dollar Index (DXY).

This stable-looking chart hides underlying tensions about inflation, interest rates, and whether investors still want to pay a premium for America.

The Federal Reserve's hawkish stance has lifted the dollar, while the European Central Bank's rate hike and yen support have capped its growth.

A close above 101.98 would strengthen the bullish case, while a fall below 97.63 would restore the broader downtrend on the weekly chart.