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Forex- Dollar Edges Down as Euro, Sterling Rise

Published 01/04/2018, 11:50 AM
The U.S. dollar continues to fall.
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Investing.com - Upbeat private employment data failed to bolster the U.S. dollar, which remained broadly lower against other major currencies on Thursday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.24% at 91.67 by 11:49 AM ET (16:49 GMT).

Payrolls processor ADP reported on Thursday that U.S. private employers added 250,000 jobs in December, well above economists' expectations.

However a separate report showed that U.S. jobless claims increased by 3,000 last week to 250,000, disappointing expectations for a 6,000 decline. The reports were ahead of the nonfarm payrolls data on Friday, which includes government and private-sector employment.

The greenback had briefly rallied on Wednesday after three weeks of losses after Fed meeting minutes showed policymakers think the U.S. labor market are strong.

The euro and the pound remained higher, with EUR/USD up 0.38% at 1.2062 and with GBP/USD adding 0.18% to 1.3540.

Earlier Thursday, data showed that UK consumer lending slowed to its weakest since 2015 in the three months to November, while service sector activity picked up in November.

The yen fell, with USD/JPY up 0.24% at 112.78, while USD/CHF slipped 0.18% to 0.9754.

Elsewhere, the Australian dollar rallied, with AUD/USD up 0.23% at 0.7853, while NZD/USD gained 0.72% to 0.7143.

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