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ForexMediumUpdated×4•Originally published 18 February 2026•Updated 18 February 2026•

1 min read

Hawkish FOMC Minutes Propel US Dollar as Officials Signal Potential Rate Hikes

Donald Trump against maps of the US and Iran, with oil barrels, pipelines, derricks, and upward financial charts amidst flames.

The recently released FOMC meeting minutes revealed an unexpectedly hawkish stance, providing a significant boost to the US Dollar across global markets. Federal Reserve officials explicitly discussed the possibility of further interest rate hikes to ensure inflation returns to target levels. This hawkish revelation intensified the downward pressure on the EUR/USD pair, while the US Dollar Index (DXY) extended its gains. Notably, the USD/JPY pair is now on the verge of breaking through key technical resistance levels as divergence in monetary policy widens. Commodity-linked currencies, including the Australian Dollar, remained under pressure as the greenback dominated trading sessions. Market participants are now recalibrating their expectations, pricing in a more aggressive tightening path for US monetary policy following the release.

4 months ago

Version History

Version 44 months ago

What changed: Markets shifted from anticipation to a reactive rally following the release of FOMC minutes that were more hawkish than previously priced, specifically mentioning potential further tightening.

Version 34 months ago

What changed: Added details regarding the decline in the EUR/USD pair to further illustrate broad-based US Dollar strength ahead of the FOMC minutes.

Version 24 months ago

What changed: The update incorporates specific technical levels for the US Dollar Index (DXY), noting its trade at 97.29 with a 0.20% daily gain and its ability to hold above the 97.00 threshold.

Version 14 months ago

What changed: The US Dollar reached a higher price threshold against the Japanese Yen (154.00) and is now showing notable strength against the Canadian Dollar (1.3659), which was not previously mentioned.