The dollar was higher and could rise further after Powell signaled interest rates might be cut in smaller increments after last month’s 50 basis-point cut, ING said.

The US Dollar (USD) trades broadly positive on Tuesday ahead of the Manufacturing Purchasing Managers Index (PMI) numbers from the Institute for Supply Management (ISM). The positive turnaround for the Greenback took place after traders priced in less interest rate cuts from the Federal Reserve (Fed) on the back of Chairman Jerome Powell comments.