The dollar index (DXY00) today is up by +0.09%. The dollar recovered from early losses today and is slightly 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 today after the Dec ADP employment report showed private employers added fewer jobs than expected, and the Nov JOLTS report showed fewer job openings than expected, which are dovish factors for Fed policy. Today's slide in T-note yields has also weakened the dollar's interest rate differentials.
