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The dollar is ticking up ahead of the Beige Book

Elena Holodny   

The dollar is ticking up ahead of the Beige Book

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."

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 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 the number of unemployed fell by 52,000 in the three months to August.
  • The Russian ruble was lower by 0.2% at 57.4037 per dollar, while Brent crude oil, the international benchmark, was up by 0.9% at $58.38 per barrel.
  • The South African rand was weaker by 1% at 13.5240 per dollar after data showed CPI rose 0.5% month-over-month in September, above expectations of a 0.3% increase.
  • 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 weaker by 0.2% at 65.070 per dollar.

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