The US dollar index climbed to 99.92 on Thursday, nearing its highest level in over two months and on track for a 3% monthly gain in July, its first rise this year. The latest data showed the Fed’s preferred inflation gauge, core PCE, rose 0.3% in June and 2.8% year-on-year, suggesting inflation remains sticky and bolstering the case for the Fed’s decision to hold rates steady. Consumer spending, however, barely rose, reflecting mixed economic signals. Markets are now focused on Friday’s July jobs report. Meanwhile, President Trump reignited criticism of Fed Chair Jerome Powell for holding rates, accusing the central bank of being too slow to act. He also unveiled fresh trade moves ahead of his self-imposed Friday deadline, including 15% tariffs on South Korea and 25% on India. Treasury Secretary Scott Bessent said he will meet Trump to discuss whether to extend the tariff truce with China, expressing optimism that a deal will be reached.