The dollar index (DXY00) today is down by -0.12%. The dollar gave up an overnight advance and turned lower today as T-note yields fell after the weekly ADP employment change showed the smallest number of new jobs added in five weeks, a dovish factor for Fed policy. Losses in the dollar are limited after Feb pending home sales unexpectedly increased, and as the war against Iran enters its eighteenth day with no end in sight, boosting safe-haven demand for the dollar.
The ADP weekly employment change for the four weeks ending February 28 increased by +9,000, the smallest increase in five weeks and a sign of a slowdown in hiring by US employers.
