On Thursday, the major American currency stood tall on higher US Treasury yields, after a soar in American private-sector jobs in February cemented hopes that the Fed will lift interest rates already next week.
The dollar index, usually assessing the US dollar against six major counterparts, rose 0.1%, hitting 102.13, which is not far from a March 2 high of 102.26, which was a level not observed since January 11.
On Wednesday, the ADP National Employment Report revealed that private payrolls surged by 298,000 jobs the previous month, which is the largest soar since December 2015. The revenue was quite above economists’ hopes for a 190,000 leap.
The strong revenue in private-sector jobs brought benchmark US Treasury yields to their highest peak since December.
The US dollar gained 0.1%, trading at 114.41 yen. Widening US-Japan interest rate differentials backed the greenback. On Wednesday, it had soared as high as 114.75 yen, which is not far from a two-week peak of 114.955, reached on February 15.
