The U.S. dollar extends its rally, with DXY up 2.49% in a month and 3.24% in six months. A hawkish Fed supports the dollar now, but reserve diversification may weigh over time. ETFs provide flexible ways to capitalize on both dollar rallies and declines. The U.S. dollar has enjoyed a strong run since tensions in the Middle East escalated, driven by robust safe-haven demand and expectations that higher oil prices could keep inflation elevated, reinforcing the case for a hawkish Fed.