The advance followed a renewed Fed focus on taming inflation and hawkish comments from officials Michael Barr and John Williams, leading markets to fully price in a December rate hike. Traders now anticipate 90 basis points of tightening over the next 12 months, while energy prices driven by the Iran war pushed the 30 year Treasury yield to its highest since 2002. All G10 currencies except the yen weakened against the dollar during September.
Wednesday, October 21, 2026
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US Dollar Hits 17 Month High and Pushes Euro to May 2025 Low
Global Markets19 days ago
The euro fell 1% to $1.12165 on Oct. 1, reaching its lowest level against the greenback since May 2025. The US dollar subsequently climbed to a 17 month high on Oct. 2 and reached an index level of 101.62, its highest in two months. This rally capped September as the dollar's strongest month since June, with the Bloomberg Dollar Spot Index rising 1.7%.
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