Dollar Index Today Hits Week High of 101.18 After US Resumes Strikes on Iran; Yen at 162.28

Dollar index today clung to its highest levels of the week against most peers at the start of Asian trading on Wednesday, 8 July 2026, as the US renewed strikes on Iran, reviving geopolitical tensions and sending oil prices higher. The dollar index, which measures the greenback’s strength against a basket of six currencies, traded at 101.18, its highest level since 2 July.

The renewed conflict has lifted inflation concerns through the oil channel, firming up bets that global interest rates could stay higher for longer and supporting the US currency.

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Dollar Index Today: How Major Currencies Moved

Currency / Asset	Level and Move
Dollar Index	101.18, highest since 2 July
USD/JPY	162.28, dollar up 0.1 percent against the yen
Euro	$1.1405, down 0.1 percent
British Pound	$1.3353, down 0.1 percent
New Zealand Dollar	$0.5681, up 0.1 percent ahead of RBNZ decision
Australian Dollar	$0.6926, steady
Bitcoin	$63,518.35, down 0.2 percent
Ether	$1,774.45, down 0.5 percent

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Central Bank Cues Behind the Currency Moves

The kiwi dollar firmed slightly ahead of a Reserve Bank of New Zealand decision, where the central bank is narrowly expected to raise interest rates for the first time in more than three years. Against the yen, the dollar strengthened 0.1 percent to 162.28 after Bank of Japan board member Toichiro Asada, the sole dissenter to the June rate hike, said he must see signs of demand driven inflation before supporting further increases.

For Indian markets, a firm dollar and elevated crude prices are a double headwind, pressuring the rupee and importer margins. The Sensex opened around half a percent lower on Wednesday as risk sentiment soured.

What Should Investors Watch on the Dollar Index Today

The trajectory of the US Iran conflict, crude oil prices and the RBNZ decision are the immediate triggers for the dollar index today. A sustained move above the 101 mark would keep emerging market currencies, including the rupee, under pressure and could weigh on foreign flows into Indian equities.

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Conclusion

The dollar index today held at a week high of 101.18 after the US resumed strikes on Iran, with the yen at 162.28, the euro at $1.1405 and Bitcoin down 0.2 percent at $63,518. Oil driven inflation risk and central bank decisions will steer the next move. Investors should watch the rupee impact and consult a SEBI registered advisor for portfolio decisions.

Frequently Asked Questions FAQs

What is the dollar index today?

Ans. The dollar index traded at 101.18 on 8 July 2026, its highest level since 2 July, after the US renewed strikes on Iran and oil prices rose.

Why is the dollar rising against other currencies?

Ans. Renewed US strikes on Iran pushed oil prices higher, raising inflation concerns and firming expectations that interest rates could stay higher for longer, which supports the dollar.

What is the dollar to yen rate today?

Ans. The US dollar strengthened 0.1 percent against the Japanese yen to 162.28 on 8 July 2026, after cautious comments from Bank of Japan board member Toichiro Asada on further rate hikes.

What is the RBNZ expected to do?

Ans. The Reserve Bank of New Zealand is narrowly expected to raise interest rates for the first time in more than three years, which lifted the kiwi dollar 0.1 percent to $0.5681.

How are cryptocurrencies trading today?

Ans. Bitcoin was down 0.2 percent at $63,518.35 and ether was 0.5 percent lower at $1,774.45 on 8 July 2026 as risk sentiment weakened.

How does a strong dollar affect Indian markets?

Ans. A strong dollar pressures the rupee, raises import costs and can slow foreign flows into Indian equities. Investors should track currency trends and consult a SEBI registered investment advisor for guidance.