US Dollar Index Hits Six Sessions High Ahead of Fed Decision

The US Dollar Index has risen for six consecutive trading sessions ahead of the Federal Reserve's interest-rate decision.

Currently, the index is hovering around 99.70, with prices remaining above both the 50-period EMA and the 9-period EMA.

Market participants are recalibrating their positions around US inflation, energy prices, and the future trajectory of monetary policy, keeping the dollar in a relatively firm short-term stance.

The Federal Reserve's September interest-rate decision is expected to be a 25-basis-point hike, with the benchmark overnight rate potentially rising to between 3.75% and 4.00%.