The dollar index surged above 106.8, reversing a three-day decline, after Federal Reserve officials signaled caution on resuming interest rate cuts. Governors Christopher Waller and Michelle Bowman emphasized the need for patience, urging the Fed to wait for evidence that inflation is reaching its 2% target. Philadelphia Fed President Patrick Harker advocated for holding rates steady amid a strong economy. Traders are awaiting the release of FOMC minutes this week for further guidance on rates outlook. The dollar’s recent gains come as US economic data has shown mixed results, but eased concerns about aggressive tariffs have also contributed to increased demand.
Source: https://www.tradingview.com/news/te_news:448235:0-dollar-rises-on-hawkish-fed-remarks