USD Stronger

The Dollar scaled a one-month peak against a basket of currencies on Wednesday as reports showing robust job growth and productivity gains suggested a milder slowdown in the US economy than many had thought.

The surprise jump in the ADP employer services report on private sector employment fanned expectations of an above forecast non-farm payrolls report on Friday, prompting the market to trim back chances of a 0.50% interest rate cut by the Federal Reserve next week. private sector added 189,000 private-sector jobs last month, the ADP report showed, helping to ease some market fears about trouble in global credit markets that had weighed on the greenback in recent sessions.

Data on Friday will likely show that US employers, outside the farming sector, added 75,000 jobs last month. Expectations the Bank of England will lower it’s main lending rate to 5.5%. But ECB is expected to hold at 4%.


http://www.mataf.net/en/forex/forex-dollar-was-stronger-against-major-currencies-after-job-and-productivity-reports/327/