Power Back ! US Dollar Strengthens Supported by US Data and Oil Risks

Author : Berita Valas | Published On : 18 Jun 2026

Sentiment was also influenced by the Federal Reserve's decision to maintain interest rates, with some policymakers opening the door to a rate hike later this year.

The US dollar moved higher against a basket of major currencies, with the US Dollar Index reaching 100.39, up 0.84%. The greenback's strengthening occurred as market participants reassessed global oil supply risks and the outlook for US interest rates.

Concerns arose that the recovery of oil production and supplies in the Gulf region was expected to be slow, despite hopes that a US-Iran deal could reopen the Strait of Hormuz.

Maritime security risks, rising insurance premiums, and the need to reconstruct war-damaged oil facilities kept the market cautious.

On the data front, US retail sales rose 0.90% month-on-month in May, beating the 0.50% forecast, while pending home sales jumped 3.80%. These figures reinforce the view that US economic activity remains quite solid.

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