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Dollar edges toward 2026 high as Middle East tensions lift safe-haven demand

The USD index rose toward 102.30, and attention turned to US inflation data due Wednesday that could reinforce expectations for rate hikes starting in December.

Reported · Written up by our desk · Major Pairs

The dollar held a firm tone and climbed toward a new 2026 peak of 102.30 on Monday, as escalation of conflict in the Middle East boosted safe-haven demand, according to Action Forex.

Markets also looked ahead to US inflation data due on Wednesday, with expectations that September prices will rise further and support growing views for additional rate hikes beginning in December.

Action Forex noted the dollar index was in its fifth straight week of uninterrupted gains, while technical indicators like overbought RSI and a diverging 14-day momentum reading left room for a pause in the rally.

The outlet said the bullish structure is expected to stay intact as long as the price remains above the rising 10-day moving average at 101.73, with potential deeper dips not expected to break below Fibo support at 101.41.

Latest closeDollar index 102.12 ▼0.1%

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