The US economic calendar is light today ahead of tomorrow’s Fed decision, but that hasn’t stopped the Dollar from making moves.

The Dollar is rallying this morning after finding itself down against most of its major peers before the US jobs data release.

After surging higher leading into Tuesday's US session, the Dollar rally cooled slightly to close the day as President Biden and lawmakers failed to resolve the debt ceiling crisis.

Yesterday's risk-off mood helped the Greenback climb over 0.60% against its major trading partners and has held firm near that level this morning as the Dollar Index looks to stay on track for its biggest weekly gain since February.

The Dollar Index finished last week up 1.4%, its biggest weekly gain since February and its highest closing level in five weeks.

The Dollar remains just below its five-week high this morning as April Retail sales numbers showed an increase of just 0.4% against expectations of a 0.7% rise.

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.