The US dollar rose moderately against the euro, pound sterling and yen during trading on Wednesday, with market participants awaiting statistics on the US labour market.
The ICE DXY index, which tracks the dollar against six currencies (the euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), rose 0.1%, as did the broader WSJ Dollar Index.
The euro is trading at $1.1363, compared with $1.1372 at the close of trading on Tuesday, losing less than 0.1%.
Industry organisation ADP Employer Services will publish its report on US job growth for May on Wednesday, the Labour Department will release data on unemployment benefit claims on Thursday, and the official report on the state of the labour market last month will be released on Friday.
Experts expect the number of jobs in the country’s economy to have grown by 130,000, with unemployment remaining at 4.2%. Earlier, the Labour Department reported that the number of job vacancies in the US fell by 191,000 in April to 7.391 million.
In March, according to revised data, the figure was 7.2 million, not 7.292 million as previously announced.
Analysts had expected the figure for the previous month to be revised down to 7.1 million from the preliminary March level, according to Trading Economics. Traders are also awaiting the outcome of the European Central Bank (ECB) meeting on Thursday. The ECB is expected to cut rates for the eighth time in the last year, bringing the deposit rate down to 2%.
At 07:09 a.m., the pound sterling was trading at $1.3510, compared with $1.3517 at the end of the previous session.
The dollar rose 0.19% against the yen at the same time, to 144.25 yen, compared with 143.97 yen at the end of the previous trading session. The dollar/offshore yuan pair is trading at 7.1934 yuan against 7.1915 yuan at the end of the previous session.
