Dollar broadly higher after strong ADP report

Dollar broadly higher after strong ADP report

30 September 2015, 15:06
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The dollar pushed higher against the other major currencies on Wednesday, after data showed that U.S. non-farm private employment rose more than expected in September and as investors eyed a speech by Federal Reserve Chair Janet Yellen scheduled later in the day.

The U.S. dollar index was last at 96.196, up 0.36%.

EUR/USD was last at 1.1197, down 0.46%.

The dollar was higher against the yen, with USD/JPY up 0.32% at 120.12.

The Swiss franc was also lower against the greenback which rose to 0.9750 francs, up 0.31%.

Companies in the U.S. private sector added 200,000 jobs in September, according to the large payroll processor ADP. Economists were expecting an increase of about 190,000 vs. a revised 186,000 gain in August. Economists use ADP's data to get a sense of how many new jobs the government's official employment report will show. The Labor Department issues its report on Friday.

Market players were now anticipating comments by Fed Chair Janet Yellen due later in the day after mixed messages from several Fed policymakers last week led to lack of clarity over whether the Fed will raise short term interest rates this year.

New York Fed President William Dudley and San Francisco Fed head John Williams showed support for a rate increase in 2015 in separate speeches on Monday, but Chicago Fed President Charles Evans said rates should remain on hold until mid-2016.

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