Dollar Surges Amid Inflation Fears and Oil Price Spike

The US dollar strengthened on September 10th after data revealed inflationary pressure in the form of a 0.4% month-over-month increase in Producer Prices, matching analyst estimates.

The strong rally in oil markets also contributed to the dollar's gain, with Brent oil rising above $107.00 due to tensions in the Middle East and control of key shipping routes by the Houthis.

As a result, the US Dollar Index (DXY) gained ground, aiming for resistance at 99.25-99.40 if it settles above 99.00.