US Dollar Index news for August 28, 2026

The US Dollar Index is being supported by a hawkish Federal Reserve stance, as Fed Chair Kevin Warsh warns that inflation progress is insufficient and hints at potential rate hikes. This follows sticky core PCE data and steady GDP, which have kept tightening hopes alive. The resulting rise in bond yields and dollar strength is pressuring stocks and gold, underscoring the greenback's current momentum.

Updated 21:05 UTC

How the day unfolded

1. 00:05 UTC

   The US Dollar Index firmed after the latest PCE inflation reading came in slightly hotter than expected, keeping the case for a September Fed rate hike in play. Steady GDP and sticky core PCE data have supported expectations that the Fed may need to continue tightening. The dollar is also finding support ahead of the Jackson Hole symposium, with the Fed's preferred inflation gauge landing just before the event.

2. 18:05 UTC

   The US Dollar Index is firmer after data showed sticky core PCE and steady GDP, which have kept alive expectations for additional Federal Reserve tightening. Fed Chair Powell also warned that inflation progress is insufficient and hinted at rate hikes, a hawkish message that pressured stocks and gold. The dollar is trading higher as a result, with attention turning to Jackson Hole.

Headlines (16)

• Preview, today: Fed's favoured inflation gauge lands two days before Warsh's Jackson Hole speech
  investinglive.com · Aug 26, 00:59 UTC
• Slightly hotter than expected PCE inflation keeps Fed’s September rate rise in play
  www.ft.com · Aug 26, 15:21 UTC
• Forex Today: US Dollar firms ahead of Jackson Hole
  www.fxstreet.com · Aug 26, 19:58 UTC
• Japanese Yen reverses earlier gains as US Dollar firms after PCE data
  www.fxstreet.com · Aug 26, 19:58 UTC
• The Dollar Index is climbing out of a fiscal hole
  www.fxstreet.com · Aug 26, 19:58 UTC
• UBS backs de-dollarization trend, lifts gold target to $5,400 an ounce
  investinglive.com · Aug 26, 22:31 UTC
• Sticky Core PCE and Steady GDP Keep Fed Tightening Hopes Alive
  www.babypips.com · Aug 27, 03:26 UTC
• US Dollar Edges Higher
  www.investing.com · Aug 27, 11:28 UTC
• Euro trims intraday losses as traders weigh Fed-ECB interest rate outlooks
  www.fxstreet.com · Aug 27, 13:37 UTC
• FX Daily: Keeping an eye on the long end
  think.ing.com · 07:01 UTC
• US stocks reverse and fall to the lows of the day as the hawkish message registers
  investinglive.com · 17:10 UTC
• Gold price drops as Warsh warns Fed still has ‘work to do’ on inflation
  www.mining.com · 17:10 UTC
• US Fed chair warns inflation progress insufficient, hints at rate hikes
  www.aljazeera.com · 17:30 UTC
• Fed Chair Kevin Warsh triggers a $488 million crypto liquidation cascade as rate-hike expectations rise
  cryptoslate.com · 19:05 UTC
• investingLive Americas FX news wrap 28 Aug
  investinglive.com · 20:42 UTC
• U.S. Stocks Fall After Warsh Speech Boosts Bond Yields
  www.wsj.com · 20:44 UTC

Scheduled events

As of 21:05 UTC

• 2026-08-28 — German Import Prices m/m · forecast 0.3% · EUR
• 2026-08-28 — Retail Sales y/y · CHF
• 2026-08-28 — French Consumer Spending m/m · forecast 0.1% · EUR
• 2026-08-28 — French Prelim CPI m/m · forecast 0.7% · EUR
• 2026-08-28 — French Prelim GDP q/q · forecast 0.2% · EUR
• 2026-08-28 — French Final Private Payrolls q/q · forecast -0.1% · EUR
• 2026-08-28 — KOF Economic Barometer · forecast 103.0 · CHF
• 2026-08-28 — Spanish Flash CPI y/y · forecast 4.2% · EUR