U.S. Dollar Remains Lower Versus Majors Before Beige Book

The dollar fell for a second day against most of its 16 major counterparts before a private jobs report in the U.S. forecast to show companies added positions.

Demand for the U.S. currency was limited before the Federal Reserve releases its Beige Book report. The euro was little changed against the yen for a third day before European Central Bank President Mario Draghi and his board meet tomorrow. Speculation that central banks will continue stimulus helped spur the Dow Jones Industrial Average to a record in New York. Australia’s currency rose for a second day versus the dollar as data showed economic growth accelerated last quarter.

“The dollar is being sold in a risk-on trade,” said Kazuo Shirai, a trader at Union Bank NA in Los Angeles. “The Dow Average climbed to a record and Treasuries were sold. The market is waiting for the jobs report.”


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