Dollar Edges Higher on Strength in US Service Sector Activity

The dollar index (DXY00) on Wednesday rose by +0.11%.  The dollar recovered from early losses on Wednesday and moved higher after Dec ISM services index unexpectedly expanded at its fastest pace in 14 months.  The dollar also rose amid increased safe-haven demand after the US seized a Russian-flagged tanker for sanctions violations. The dollar initially moved lower on Wednesday on signs of weakness in the US labor market after the Dec ADP employment report showed private employers added fewer jobs than e ...