The dollar index hovered around 106.6 on Wednesday, its highest level in a week, as market participants awaited further clues on the Fed's plans for its December meeting.
Attention will now turn to a speech by Chairman Jerome Powell in New York later in the day, with odds of a 25bps Fed rate cut now hovering around 74%. Also, the ADP report showed the U.S. private sector added 146,000 jobs last month, a strong reading and slightly below market expectations of 150,000.
The highly anticipated jobs report is due on Friday. The U.S. dollar gained the most against the yen and the Australian dollar.
Source: Trading Economics
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