FX.co ★ Dollar Extends Gains Ahead of Key Data Releases

The dollar index surpassed 98.4 on Wednesday, continuing its upward trend as investors anticipated key economic reports that could impact the Federal Reserve's policy decisions. Market participants are focused on today's release of the US JOLTS Job Openings and the Federal Reserve's Beige Book, while also closely monitoring Friday's August payroll report, unemployment figures, and private sector hiring data. Recently, the dollar experienced a dip due to heightened expectations for a rate cut by the Fed, with the likelihood of a 25 basis point reduction this month at nearly 92%. Nonetheless, the dollar has regained momentum driven by increased demand for safe-haven assets amid widespread global economic uncertainty, renewed trade tensions, and persistent geopolitical risks. Additionally, growing concerns over rising debt levels in major economies have further increased the appeal of safe-haven investments.