The dollar index fell to its lowest level in the session as U.S. corporate payrolls unexpectedly fell in September and traders increased bets on two interest rate cuts by the Federal Reserve this year. The yen outperformed other Group of 10 currencies on Wednesday.
The Bloomberg Dollar Spot Index fell 0.2% to its lowest level since September 24, heading for a fourth straight day of declines and the longest losing streak in a month. The U.S. government shutdown has begun and risks delaying key economic reports.
Private-sector payrolls fell by 32,000 after a revised 3,000 decline a month earlier, according to ADP Research data released Wednesday. The median estimate in a Bloomberg survey of economists was for a 51,000 increase.
USD/JPY fell 0.8% to 146.73. Confidence among large Japanese manufacturers improved for the second straight quarter, bolstering the Bank of Japan's case for an interest rate hike as early as this month.
EUR/USD rose 0.2% to 1.1756, rising for a fourth day, its longest winning streak since July. Eurozone inflation rose in September, reinforcing the ECB's plan to keep interest rates steady for now.
AUD/USD rose 0.1% to 0.6619. Earlier, the currency had fallen, boosted by lower iron ore prices.
Some information comes from a forex trader familiar with the transaction who asked not to be identified because they are not authorized to speak publicly. (alg)
Source: Bloomberg
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