Dollar Index Outlook: Fed Hike Bets Surge as ECB Tightens and Oil Shock Tests Sterling The U.S dollar kicks off the week on the back of firmer fundamental support. Persistent inflation and another spike in energy prices are increasing predictions that the U.S. Federal Reserve will raise interest rates on their next scheduled meeting day, Wednesday. Currently, markets are pricing in a 86% chance of a 25 basis point increase. Last month's consumer price index data surprised to the upside and has convinced Goldman Sachs to reverse their earlier call of keeping rates steady, and J.P. Morgan to call for interest rate hikes in both September and December in tandem. Even though tighter monetary policy in the U.S.
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