The dollar is weaker against a basket of currencies this morning ahead of the Non-Farm Payrolls report on Friday.
It has struggled since Federal Reserve Chair, Jerome Powell, said last week that interest rate hikes were still a way away, stating that more progress needs to be seen in the labour market.
Today, the markets will be watching closely for results of the ADP Employment Change, which measures levels of non-farm private employment. This could have a bearing on the comments from the Federal Reserve going forward and also indicate how Friday’s jobs report will fare.
A series of PMI figures will also be released for the US today, showing how the services and manufacturing industries fared in July.
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