2 weeks ago
Forex

U.S. Dollar Flat After Private Job Growth Slows in February

Investing.com - The greenback was flat Wednesday, but still held onto two-week gains after job growth in the U.S.

Investing.com - The greenback was flat Wednesday, but still held onto two-week gains after job growth in the U.S. slowed in February, but was stronger in January than originally thought.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, lost 0.05% to 96.74 as of 10:43 AM ET (15:43 GMT), after reaching an overnight high of 96.80.

The dollar slipped after payrolls processor ADP (NASDAQ:ADP) reported the economy added 183,000 jobs in February, a slowdown from January and below economists' expectations. However, the shortfall was offset by a revision in January, when 300,000 jobs were added.

The dollar declined against the safe-haven yen, with USD/JPY falling 0.2% to 111.68.

The loonie was lower, with USD/CAD up 0.7% to 1.3436 after the Bank of Canada kept rates unchanged at 1.75%, as expected.

Elsewhere, the Australian dollar fell after data showed the economy grew 0.2% in the fourth quarter, below an expected 0.5% increase. The AUD/USD decreased 0.7% to 0.7027 while NZD/USD slipped 0.3% to 0.6770.

The pound was lower, with GBP/USD down 0.07% to 1.3165 as Prime Minister Theresa May continues to try to get her Brexit deal through Parliament. The euro rose, with EUR/USD up 0.10% to 1.1316.