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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app