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
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