High Oil Prices and Safe-Haven Demand Support USD Index as It Consolidates Near 101.80

English summary

During Wednesday's Asian session, the US Dollar Index continued to rise moderately after two days of small gains, trading near 101.80. Attacks in the Strait of Hormuz pushed up oil prices and amplified global inflation concerns, driving safe-haven funds back into the dollar; meanwhile, markets priced an approximately 83.9% probability that the Fed would hold rates steady next week and a ~90% probability of a December rate hike, while Chair Warsh's refusal to predict policy paths left the dollar lacking directional catalysts.