The dollar is ticking up ahead of the Beige Book

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Markets Insider

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.