The dollar index (DXY00) Thursday fell -0.22%. The dollar on Thursday fell back from a 3-week high and posted moderate losses. A sell-off in global equity markets Thursday boosted demand for the Japanese yen as a safe haven as the yen climbed to a 1-week high against the dollar. Also, the euro rose against the dollar after German May factory orders rose more than expected by the most in almost three years. Losses in the dollar were contained after stronger-than-expected reports on U.S. Jun ADP employment and Jun ISM services pushed bond yields higher.
The U.S. Jun ADP employment change surged by +497,000, well above expectations of +225,000 and the most in 16 months, signaling strength in the U.S. labor market.
