Dollar Hits 5-Month High as ISM, ADP Test Fed Rate-Cut Bets

Core Insights - The dollar has reached a five-month high, driven by stronger-than-expected jobs and activity data, which may challenge market expectations for a Federal Reserve rate cut in December [1][2] Economic Indicators - The Institute for Supply Management's services sector activity index rose to an eight-month high of 52.4 in October, indicating growth as it remains above the 50-point threshold [2] - The input prices index surged to 70, marking the highest level in three years, reflecting increased costs in the services sector [2]