Dollar Sees Support from Positive Empire Report and Reduced Fed Rate-Cut Expectations

The dollar index (DXY00) today is up by +0.25%.  The dollar is climbing on today’s news that the Nov Empire manufacturing general business conditions survey unexpectedly rose to a 1-year high.  The dollar also has carryover support from last week when a parade of Fed presidents said they favored keeping interest rates steady, which reduced the chances of a Fed rate cut at next month’s FOMC meeting to 41% from 70% earlier this month. The US Nov Empire manufacturing general business conditions survey unexpe ...