The dollar index (DXY00) today rose to a new 5.5-month high and is up by +0.04%. The dollar has support from this week's plunge in equity markets, which has boosted liquidity demand for the dollar. Also, hawkish Fed comments today from Boston Fed President Susan Collins and Dallas Fed President Lorie Logan supported the dollar, as they said they favored keeping interest rates steady. In addition, an upward revision to the University of Michigan US Nov consumer sentiment index was bullish for the dollar. However, the dollar gave up most of its advance on dovish comments from New York Fed President John Williams, who said he sees room for a Fed rate cut in the "near term."
The US Nov S&P manufacturing PMI fell -0.6 to 51.9, close to expectations of 52.0.
