The US dollar index catapulted to a three and half week high on Thursday as safe haven appeal for the currency gained appetite amid escalating Middle East tensions. Besides, waning optimism the Federal Reserve will continue to aggressively lower interest rates after payroll processor ADP released a report showing stronger than expected private sector job growth in the month of September supported the greenback. ADP said private sector employment climbed by 143,000 jobs in September after rising by an upwardly revised 103,000 jobs in August. Investors now look ahead to the latest weekly jobless claims on Thursday and the September jobs report on Friday to gain more clarity on the rates path. The dollar index that measures the greenback against a basket of currencies is quoting at 101.63, up 0.20% on the day. US treasury yields also ticked higher at 3.79%. Among basket currencies, EURUSD is down 0.11% at $1.1060 whereas GBPUSD is down 0.60% at $1.3181.
| Subscribe To Our Free Newsletter |
