U.S. Dollar Eases on Soft Data

The dollar languished at its lowest in over two months against a basket of major currencies early on Thursday, under renewed pressure from disappointing data, while a further spike in German yields gave the euro some support.

Figures on Wednesday showed U.S. private sector employers in April hired the fewest workers in more than a year, raising a red flag for nonfarm payrolls due on Friday.

The dollar index slid as far as 93.882 – a low last seen in mid-February – before steadying at 94.134. It has fallen more than 6 percent from a 12-year peak of 100.39 set in March.