Investing.com - The dollar moved largely lower against most major currencies on Wednesday after a key private-sector jobs report missed expectations and rekindled expectations for ultra-loose Federal Reserve policies to stay in place possibly through the end of the year.
In U.S. trading on Wednesday, EUR/USD was up 0.43% at 1.3584.
Payroll processing firm ADP said earlier that U.S. non-farm private employment rose by a seasonally adjusted 166,000 in September, missing expectations for an increase of 180,000.
July's figure was revised down to a gain of 159,000 from 176,000.
The numbers softened the greenback by keeping expectations alive that the Federal Reserve will continue stimulating the economy with its monthly USD85 billion in asset purchases — possibly through December — which weaken the dollar by driving down interest rates to spur recovery.
Elsewhere, a U.S. government shutdown ran into its second day on Wednesday due to an inability among lawmakers to approve a spending package.
Concerns the shutdown will mean the official September jobs report won't publish Friday pushed the ADP report into the limelight on Wednesday, weakening the dollar as the report became the de facto official data in the eyes of investors throughout the session.
The euro, meanwhile, found support after Italian Prime Minister Enrico Letta survived a vote of confidence in parliament on Wednesday after Silvio Berlusconi backtracked in his opposition to the coalition.
The single currency also rose after the European Central Bank left interest rates unchanged at 0.50%.
The greenback was down against the pound, with GBP/USD up 0.19% at 1.6227.
The dollar was down against the yen, with USD/JPY down 0.66% at 97.38, and down against the Swiss franc, with USD/CHF down 0.36%at 0.9023.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.01% at 1.0325, AUD/USD down 0.14% at 0.9385 and NZD/USD trading up 0.37% at 0.8307.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.37% at 79.97.
On Thursday, the U.S. is scheduled to release its weekly government report on initial jobless claims along with data on factory orders.
Meanwhile, the ISM is to produce a report on non-manufacturing activity, a leading economic indicator.
In U.S. trading on Wednesday, EUR/USD was up 0.43% at 1.3584.
Payroll processing firm ADP said earlier that U.S. non-farm private employment rose by a seasonally adjusted 166,000 in September, missing expectations for an increase of 180,000.
July's figure was revised down to a gain of 159,000 from 176,000.
The numbers softened the greenback by keeping expectations alive that the Federal Reserve will continue stimulating the economy with its monthly USD85 billion in asset purchases — possibly through December — which weaken the dollar by driving down interest rates to spur recovery.
Elsewhere, a U.S. government shutdown ran into its second day on Wednesday due to an inability among lawmakers to approve a spending package.
Concerns the shutdown will mean the official September jobs report won't publish Friday pushed the ADP report into the limelight on Wednesday, weakening the dollar as the report became the de facto official data in the eyes of investors throughout the session.
The euro, meanwhile, found support after Italian Prime Minister Enrico Letta survived a vote of confidence in parliament on Wednesday after Silvio Berlusconi backtracked in his opposition to the coalition.
The single currency also rose after the European Central Bank left interest rates unchanged at 0.50%.
The greenback was down against the pound, with GBP/USD up 0.19% at 1.6227.
The dollar was down against the yen, with USD/JPY down 0.66% at 97.38, and down against the Swiss franc, with USD/CHF down 0.36%at 0.9023.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.01% at 1.0325, AUD/USD down 0.14% at 0.9385 and NZD/USD trading up 0.37% at 0.8307.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.37% at 79.97.
On Thursday, the U.S. is scheduled to release its weekly government report on initial jobless claims along with data on factory orders.
Meanwhile, the ISM is to produce a report on non-manufacturing activity, a leading economic indicator.