According to CoinMeta, as traders prepared for the Federal Reserve's resumption of interest rate hikes next month, the US dollar reached a 18-month high, continuing its strong upward trend over the past two months. The US Dollar Index rose by 0.4% on Wednesday, hitting its highest level since May 2025, and the dollar strengthened against all major currencies. The dollar's gains were further fueled on Tuesday when Federal Reserve officials made hawkish statements, and data showed that consumer prices rose higher than expected for the third consecutive month. Traders began to digest the slim possibility of a 50-basis-point interest rate hike by the Fed in December, which drove up short-term Treasury yields.