Two sets of inflation data directly tore apart the Fed's rate cut script, Middle Eastern oil prices adding fuel to the fire, DXY weekly chart nearly two points—this volatility has left the crypto world all silent.

ME News reports that on May 15th, the US dollar strengthened, with the dollar index rising over 1% this week, potentially marking the best weekly performance in two months. Two consecutive inflation data releases exceeding expectations have impacted the bond market and also prompted market bets that the Federal Reserve will raise interest rates this year. This contrasts with the widespread expectation of a rate cut last month, as tensions in the Middle East pushed oil prices higher, combined with inflation exceeding expectations boosting the dollar. Source: Jin10.