[MARKET UPDATE] DXY rises to fresh session highs of 99.58 as energy prices stay elevated; next upside levels 3rd Sep high (99.61) and 100 DMA (99.79)

Episodes where dollar strength tracks elevated energy prices rest on the terms-of-trade channel: the US is structurally less exposed to energy import costs than the large energy-importing economies whose currencies dominate the DXY basket, so sustained crude and gas strength has historically widened that differential in the dollar's favour. The move is therefore concentrated in the energy-importing legs of the index rather than against petro-currencies, a distinction that separates broad dollar rallies from oil-driven ones. Rounds of this kind have tended to persist only while the energy leg itself holds; a pullback in crude has usually unwound the bid faster than rate differentials would imply. The levels flagged in the headline, a prior swing high and the 100-day average, are the kind of clustered resistance where momentum accounts have historically either accelerated through or stalled, and a clean break has tended to invite CTA-style follow-through. Worth watching are whether the energy complex confirms or fades, and how the import-dependent currencies in the basket behave relative to the commodity bloc.