Fed hike bets rise as traders await U.S. CPI, with DXY testing 99.16 resistance while EUR/USD and GBP/USD remain under pressure.

DXY struggles despite higher Treasury yields as traders await U.S. PPI and the ECB decision, while EUR/USD and GBP/USD hold bullish support.

The Dollar Index holds 99 as a hawkish Fed collides with ECB hikes and yen intervention. Two levels decide the trend.

US producer prices rose, increasing rate hike expectations for the Federal Reserve. Traders now price a seventy percent chance of a quarter-point increase next week. Consumer…

Markets are now betting on a 90% chance of a rate hike at Wednesday's Fed policy meeting.