The dollar is ticking up ahead of the Beige Book.
The US dollar index was higher by 0.3% at 93.71 at 8:29 a.m. ET.
“We note the dollar is starting to look rich to our short-term cyclical models and we do not see much room for a sustainable bounce near-term,” Mark McCormick, North American head of FX strategy at TD Securities, said in emailed commentary.
“The major currencies are stuck in a tug-of-war between dollar on/dollar-off, with focus centered on the Fed’s Game of Thrones saga, budget news, and NAFTA headlines,” he added.
The Federal Reserve’s Beige Book will be out at 2 p.m. ET.
As for the rest of the world, here was the scoreboard as of 8:34 a.m. ET:
- The British pound was down by 0.2% at 1.3163 against the dollar after data showed unemployment in the UK fell. The unemployment rate held at 4.3% in the three months to August, but unemployment did fall in the three months to August as 52,000 fewer people were out of work.
- The Russian ruble was down by 0.2% at 57.4037 per dollar, while Brent crude oil, the international benchmark, was up by 0.9% at $US58.38 per barrel.
- The South African rand was down by 1.0% at 13.5240 per dollar after data showed CPI rose 0.5% month-over-month in September, above expectations of 0.3%.
- The euro is little changed at 1.1760 against the dollar.
- The Japanese yen was down by 0.6% at 112.84 per dollar.
- The Indian rupee was down by 0.2% at 65.070 per dollar.
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