Dollar Strengthens Despite Weaker Data Ahead of Fed Decision

The dollar gained strength despite weaker-than-expected data, while US consumer confidence fell to 81.9 in September and JOLTS job openings declined to 7,079k in August.

Rising back-end yields continue to weigh on global risk sentiment, with currencies like the euro and Swiss franc feeling the pressure.

The Federal Reserve's October hike decision is now seen as very data-dependent, with markets pricing in a 12bp probability of a rate increase.

September ADP payrolls and August personal spending and PCE inflation are due out today, which could influence the Fed's decision.