Dollar Index Hits 101, Eight-Week High as US Weighs Promoting Dollar Stablecoins Abroad

The notable signal is the direction of travel: dollar strength, rising Treasury yields and softer gold are moving together while Washington weighs an interagency effort to push dollar stablecoins abroad. That matters most for stablecoin issuers, who would gain a policy tailwind but remain bound to cash and short-term Treasury reserves, tying their economics to the very yields now climbing. Whether the stablecoin push is formally adopted — and whether reserve rules stay this tight — is the open question.