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Rich Asplund

Dollar Undercut as Stocks Rebound

United States Beth Hammack ECB Iran Gold BOJ Cleveland Fed PBOC US Federal Reserve

The dollar index (DXY00) on Wednesday fell by -0.29%. The dollar was under pressure on Wednesday as stocks rallied on a New York Times report that Iranian operatives made an offer to discuss terms for ending the war. The dollar recovered from its worst level on Wednesday after the Feb ADP employment report showed US employers added more jobs than expected last month, and the Feb ISM services index unexpectedly expanded by the most in 3.5 years, hawkish factors for Fed policy.

The US Feb ADP employment change increased by +63,000, stronger than expectations of +50,000.

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