The dollar held gains against its peers after recovering from losses earlier in the week, as solid employment data and a Federal Reserve report bolstered optimism the U.S. economy will weather slowing growth in China.
The greenback rebounded Wednesday from two-day losses against the euro and yen after a private report showed hiring in the U.S. was mostly on pace in August, before the Labor Department releases its employment figures Friday. The Fed’s Beige Book showed the economy expanded across most U.S. regions. Australia’s currency extended a rebound from a six-year low before the nation releases figures for trade and retail sales on Thursday.
The Bloomberg Dollar Spot Index, which tracks the currency versus 10 major peers, was at 1,210.27 as of 8:50 a.m. in Tokyo from 1,209.05 in New York, where it rose 0.3 percent, snapping two days of declines. The dollar was little changed at $1.1221 per euro, and gained 0.3 percent to 120.65 yen.
Australia’s currency advanced 0.1 percent to 70.44 U.S. cents from Wednesday, when it fell below 70 cents for the first time since April 2009.
Private-sector hiring increased by 190,000 in August, up from 177,000 in July, the ADP Research Institute in Roseland, New Jersey reported Wednesday. Employers added 217,000 workers, more than 200,000 for a fourth month, according to economists surveyed by Bloomberg before the government releases its data this week.
The U.S. economy expanded across most regions and industries in July and August, the Fed’s Beige Book report showed Wednesday, as tighter labor markets boosted wages for some workers.
Source : Bloomberg