The dollar index (DXY00) today climbed to a 5.25-month high and is up by +0.08%. The dollar is pushing higher today after the US Oct ADP employment change rose more than expected, a hawkish factor for Fed policy. The dollar added to its gains today when the Oct ISM services index rose more than expected to an 8-month high.
The dollar also garnered some support today from a Washington Post report that said a handful of moderate Senate Democrats are considering voting to end the government shutdown. In addition, the dollar has carry-over support from Fed Chair Powell's warning last week that another rate cut in December is not a foregone conclusion.
