The Dollar begins this week in the red as it weakens slightly against most of its G7 counterparts.

The Dollar is pushing higher this morning amidst a backdrop of disappointing manufacturing data out of Europe and the UK and cautious optimism in the ongoing US debt ceiling negotiations.

The Dollar is on the upswing again this morning, up around 0.3% amidst a slew of new economic data from the US and abroad.

The US Dollar initially rose to a two-month high after the US government announced it reached a deal to suspend the debt ceiling until January 2025, initially seen as a relief for markets.

The US Dollar continues its impressive run, now trading near seven-week highs and on pace for its fifth winning day of the past six.

The Greenback is bouncing off this morning's lows towards positive territory as the Dollar Index looks to hold on for its third consecutive winning week ahead of the Memorial Day long weekend.

The Dollar Index began the month on the back foot yesterday, closing down over 0.6%. The decline put the Greenback on pace to experience its most significant weekly drop since mid-January as chances increase for a Fed hold at their June meeting.

The US Dollar is up again this morning after having its three-week winning streak snapped last week as the market weighs the chances of a Fed rate hike this month on the heels of Friday’s robust Non-Farm Payrolls data. The odds of a rate hike at next week’s meeting are below 30% after coming in over 60% last week.

The Dollar Index is inching higher this morning after losing ground yesterday in the aftermath of yesterday’s sluggish service sector data.

The Greenback is back in the red this morning and continues its up-and-down ride since the debt ceiling deal was reached last week.