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Barchart
Barchart
Rich Asplund

Dollar Ends Lower on Yen Strength and Weak US Labor Market News

The dollar index (DXY00) Thursday fell to a 1-week low and finished down by -0.25%.  Strength in the yen Thursday undercut the dollar after stronger-than-expected Japanese wage news pushed the yen to a 1-month high against the dollar.  The dollar fell to its low Thursday after the US Aug ADP employment change showed employers added the fewest jobs in 3-1/2 years, a dovish factor for Fed policy.  However, the dollar recovered from its worst levels after the US Aug ISM services index unexpectedly rose.

The US Aug ADP employment change rose +99,000, weaker than expectations of +145,000 and the smallest increase in 3-1/2 years.

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