Dollar Extends Gains
The dollar index rose for a second consecutive session on Tuesday, climbing to 98.4, its highest level in about two weeks. The greenback remained supported by weakness in the euro and yen, while traders awaited fresh market catalysts amid a light economic calendar and an ongoing government shutdown in Washington, which has delayed the release of key economic data.
The shutdown entered its seventh day after both Democratic and Republican funding proposals failed in the Senate for a fifth time on Monday. Attention now turns to the FOMC minutes and remarks from several Federal Reserve officials, including Chair Jerome Powell, for further clues on monetary policy.
Markets are currently pricing in a 92% probability of another 25 basis-point rate cut this month and nearly an 80% chance of a similar move in December.
Source : Tradingeconomics.com