Dollar Index Trapped at 100 as Hawkish Fed Meets Official Selling | Federal Reserve Macro

The U.S. Dollar Index (DXY) is hovering around 100.02 on Tuesday, after last week’s sharp rejection near 101.50, and remains trapped close to the 100 psychological level. The article cites daily RSI at 38 as a warning that a correction could extend toward 99.00 support. Markets are pricing roughly 55% odds of a September Federal Reserve rate hike, with Kalshi at about 53% and CME FedWatch broadly similar. But coordinated yen intervention after USD/JPY fell toward 40-year lows near 164 and weaker oil prices are pressuring the dollar. The piece points to support around 99.49 and notes upcoming catalysts: ISM Services PMI on Wednesday and the July jobs report on Friday, August 7.