EUR/USD Drops Below $1.11 on U.S. Business Data

The dollar climbed to fresh highs on Wednesday, getting lift from solid U.S. jobs and business data, as the euro sank below $1.11 to an 11-1/2 year low ahead of the launch of quantitative easing by the European Central Bank.

The dollar hit its highest since September 2003 against a basket of currencies and was last up 0.6 percent at 95.958. Earlier it struck a high of 96.059.

The ADP National Employment Report showed a gain of 212,000 private-sector jobs. Economists surveyed by Reuters had forecast the ADP to show a gain of 220,000 jobs.

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