Dollar Index Nears 101 as Fed's Waller Reaffirms Commitment to 2% Inflation Target

The US Dollar Index (DXY) traded around the 101 level in the week to July 10, 2026 (19 Tir 1405), near its highest since May 2025. Fed Governor Christopher Waller described the central bank's commitment to its 2 percent inflation target as "credible," saying monetary policy risks have "flipped around" as the labor market stabilizes while inflation has risen. The dollar's strength has come alongside renewed Iran-US tensions and could weigh on gold and emerging-market currencies.