The US dollar index strengthens on Monday morning in Asia and rebounds near 98 mark amid ongoing concerns over US government shut down. The US government shutdown entered its fifth day as US Senators failed to pass spending proposals to reopen the federal government. On Sunday, US President Donald Trump reportedly said that his administration would begin laying off federal workers. Meanwhile, rising possibility of Federal rate cuts are limiting gains in the counter. Fed Governor Stephen Miran said on Friday that he supported an aggressive path of rate cuts, citing the impact of the US President Donald Trump administration policies on the economy. Meanwhile, Dallas Fed President Lorie Logan remained hawkish, saying that the central bank really needs to be cautious of further rate cuts in an environment where things like non-housing services inflation remain “worrisome." The yield on the 10-year US Treasury note climbed to around 4.14% on Monday. The dollar index that measures the greenback against a basket of currencies is currently quoting at 97.83, up 0.42% on the day.