The dollar is weaker against a basket of currencies this morning due to market optimism about the war in Ukraine, which was sparked earlier in the week by Russia’s pledge to withdraw troops from Kyiv.
ADP employment data was released yesterday, measuring how the US’ private sector has performed in March. Private businesses hired 455,000 workers, slightly higher than market forecasts of 450,000.
It could be said that this bodes well for the latest Non-Farm Payrolls report, which will be released tomorrow. Forecasts predict that the US economy would have added 490,000 in March.
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