Dollar Strengthens Amid Hawkish Comments and PMI Data

The US Dollar (USD) continued its upward trend on Wednesday, September 23, with the USD Index reaching its highest level since late July at above 100.70.

The economic calendar featured preliminary September Manufacturing and Services Purchasing Managers' Index (PMI) data for Germany, the Eurozone, the UK, and the US later in the day.

Boston Federal Reserve President Susan Collins delivered a hawkish tone, with an FXS Speechtracker score of 8.1/10, signaling a willingness to keep policy restrictive for longer due to inflation risks.

The USD Index was last seen rising 0.2% on the day at 100.75, while US stock index futures were trading marginally higher.