Dollar Index at 103.50: EURUSD and GBPUSD Weakest Amid Fed Policy Outlook

The U.S. dollar index stood at 103.50 as of 10:00 AM EST Wednesday, February 4, 2026. EURUSD and GBPUSD were the weakest, trading at 1.1025 and 1.4230, respectively. The dollar pressured ahead of a potential meeting of the Federal Open Market Committee on February 13-15, with traders assessing whether the Federal Reserve will raise interest rates and by how much. The dollar's strength is also tempered by strong U.S. employment data released in January and expectations of continued economic resilience.