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ForexMedium•20 February 2026•

1 min read

US Dollar Holds Near 98.00 Level Amid Hawkish Fed and Strong Labor Data

Golden Yen/Yuan symbol with green arrows pointing up, and a US dollar bill sinking into cracked ground with downward arrows.

The US Dollar Index (DXY) maintained its stability near the 98.00 mark, bolstered by robust performance in the US labor market. Recent economic indicators suggest a resilient economy, providing the Federal Reserve (Fed) with more room to maintain its hawkish monetary policy stance. This environment has placed significant downward pressure on major currency pairs, particularly EUR/USD and GBP/USD. Analysts note that the combination of positive macro data and central bank rhetoric continues to favor the greenback. Consequently, market participants remain focused on upcoming Fed signals for further direction on interest rate trajectories in the near term.