The dollar is climbing

The dollar is climbing.

The US dollar index is up by 0.7% at 100.57 per dollar at around 7:51 a.m. ET after being up by as much as 0.8% around 5:15 a.m. ET.

The index’s appreciation follows Monday evening comments from Federal Reserve Bank of Philadelphia President Patrick Harker, who told reporters that the Federal Reserve’s meeting in March is a live option for an rate hike.

“March is on the table,” he said. “I would never take a meeting off the table, it depends on how the data evolve.”

Separately, there’s a bit of economic data out on Tuesday. Trade balance will be out at 8:30 a.m. ET, Jolts Job Openings at 10 a.m. ET, and consumer credit at 3 p.m. ET.

As for the rest of the world, here’s the scoreboard as of 8:03 a.m. ET:

  • The euro is down by 0.7% at 1.0676 against the dollar. Meanwhile, the IMF’s annual review of Greece has concluded. The International Monetary Fund’s annual review of Greece found that economic growth was likely to remain below 1% and that the debt-burdened country would most likely meet the preferred fiscal-surplus target of most IMF directors. Separately, German industrial production fell by 3.0% month-over-month in December, below expectations of a 0.3% uptick.
  • The Russian ruble is down by 0.9% at 59.4126 per dollar, while Brent crude oil, the international benchmark, is down by 0.6%.
  • The British pound is down by 0.8% at 1.2372 against the dollar.
  • The Japanese yen is down by 0.5% at 112.30 per dollar.
  • The Mexican peso is down by 0.5% at 20.6376 per dollar.

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