The dollar rose after U.S. economic data gave markets little impetus to bet on another near-term interest-rate cut by the Federal Reserve.
The ADP private payrolls report on Wednesday and U.S. job openings and labor turnover survey on Wednesday showed the labor market continues to gradually soften but this seems unlikely to meet the higher bar for another near-term rate cut, Evercore ISI analysts say in a note.
Meanwhile, ISM services data Wednesday were better than expected. On Thursday’s agenda, weekly jobless claims data 8:30 a.m. Eastern time at are in focus.