DXY Hits 19-Month High: Was the ‘Dollar Is Dying’ Crowd Wrong?

The US dollar hit a 19-month high on Wednesday. Traders are betting the Federal Reserve will raise interest rates again in December. It is a sharp reversal from 2025. In the first half of that year, the dollar fell more than 10%, its worst start to a year since 1973. Some saw that slide as a sign America was losing its financial might. Why Is the Dollar Rising Again? The US Dollar Index (DXY), which tracks the dollar against six major currencies, climbed to about 102.9. It was last there in April 2025. Hot inflation lit the fuse. The Bureau of Labor Statistics said consumer prices rose 0.4% in October . Economists expected 0.3%. That pushes the Fed toward higher rates, and higher rates draw money into the dollar.

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