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U.S. Dollar Supported by Jobs Data

The dollar held firm above a recent eight-week low on Thursday, supported by hopes for a healthy rise in nonfarm payrolls, while the Aussie fell after Australia’s central bank chief warned that markets are underestimating the risk of a sharp fall in the currency.

Figures from U.S. payrolls processor ADP released on Wednesday added to a string of bullish U.S. data ranging from manufacturing to auto sales, supporting the view that the U.S. economy has bounced back smartly after a first-quarter slump.

Benchmark U.S. Treasury yields rose to the highest in over a week at 2.63 percent on Wednesday in reaction to the data, which in turned helped lift the dollar against a basket of major currencies.

CNBC [1]

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