Dollar Marches Higher
The dollar index was around 106.6 on Wednesday, the highest level in a week, as traders await further clues on the Fed's plans for the December meeting.
Attention will turn to Chair Jerome Powell appearance in New York today, with the odds for a 25bps reduction in the fed funds rate currently standing at about 74%. Meanwhile, the ADP report showed the US private sector added 146K jobs last month, a robust reading, and just shy of market forecasts of 150K.
The highly-anticipated jobs report is due Friday. The greenback was strengthening the most against the yen and the Australian dollar.
Source: Trading Economics