DOLLAR INDEX HITS THREE WEEK HIGH EVEN AS TREASURY YIELDS DIP TO THREE MONTH LOW

Published on Dec 07, 2023 11:48

The US dollar index rose, adding to its recent spate of gains and is holding above 104 mark now as traders focus on the US nonfarm payrolls data due on Friday. Dollar index currently quotes at 104.20, up marginally on the day and hitting a three week top. Meanwhile, private sector employment in the US increased in the month of November, payroll processor ADP revealed in a report released on Wednesday. ADP said private sector employment rose by 103,000 jobs in November after climbing by a downwardly revised 106,000 jobs in October. The recent GDP data has supported US Dollar over last few days despite a drop in the US treasury yields which dipped to a three month low of 4.10%.