FX round-up: Data dents dollar
The dollar struggled again Wednesday as risk appetite grew as another batch of data raised hopes the economy is on the path to recovery.A report showing fewer jobs were lost in the US service sectors was worse than expected, but the market focused on an improvement in sackings to 371,000 in July from 463,000 in June.
The number from paycheck processor ADP is widely seen as a good front runner for the monthly non-farm payrolls due out Friday.
About 300,000 jobs are expected to have been lost in July, but some are predicting the lowest number since August last year.
Sterling and the euro hit their highest since October on the news, wiping out earlier gains for the greenback. The US currency had regained popularity after the Institute for Supply Management said its service sector index fell to 46.4 from 47 in June, but the flight back to the dollar as a safe-haven was short-lived.
 |
| GBP | AUD | CAD | JPY | EUR | CHF | USD | |
|---|---|---|---|---|---|---|---|
| GBP | 1.0000 | 2.0144 | 1.8206 | 161.6662 | 1.1799 | 1.8059 | 1.7000 |
| AUD | 0.4964 | 1.0000 | 0.9038 | 80.2566 | 0.5857 | 0.8965 | 0.8439 |
| CAD | 0.5493 | 1.1064 | 1.0000 | 88.7997 | 0.6481 | 0.9919 | 0.9338 |
| JPY | 0.0062 | 0.0125 | 0.0113 | 1.0000 | 0.0073 | 0.0112 | 0.0105 |
| EUR | 0.8476 | 1.7073 | 1.5430 | 137.0218 | 1.0000 | 1.5306 | 1.4408 |
| CHF | 0.5538 | 1.1155 | 1.0081 | 89.5228 | 0.6533 | 1.0000 | 0.9414 |
| USD | 0.5882 | 1.1849 | 1.0710 | 95.1000 | 0.6940 | 1.0623 | 1.0000 |
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