Dollar Pares Gains vs. Yen After Payrolls Data Disappoints and Other Top Forex News.

The U.S. dollar pared gains against the yen on Wednesday, following the release of disappointing U.S. private sector payrolls data.

This mornings ADP nonfarm payrolls data showed that the U.S. private sector added 139,000 jobs in February, well below expectations for an increase of 160,000.

And there was more bad news later on when the Institute of Supply Management said its non-manufacturing purchasing manager’s index fell to a 43-month low of 51.6 last month from 54.0 in January. Confounding expectations for a fall to 53.5 in February.

The data caused the dollar to give-up ground against the Japanese yen which suffered in risk-off trading after tensions eased in the standoff between Ukraine and Russia.

USD/JPY ended the session up 0.10% at 102.32, down from a high of 102.55 earlier.

While the euro trimmed losses against the dollar after this mornings data. The single currency couldn’t find any friends this morning, despite data showing that euro zone private sector activity grew more rapidly than initially estimated in February, expanding at the fastest pace since June 2011.

Investors remain wary of this weeks European Central Bank’s meeting on Thursday amid concerns that the bank could tighten monetary policy.

EUR/USD ended the session down 0.03% at 1.3738, up from a low of 1.3707 earlier.

The pound also found support this morning after official data showed that activity in the U.K. service sector dipped in February, but growth remained robust.

GBP/USD ended the session up 0.40% at 1.6731.

Elsewhere, the U.S. dollar fell against the Canadian dollar after the Bank of Canada left rates on hold at 1.00% on Wednesday, a decision that was widely anticipated.

The bank said economic growth in the fourth quarter of 2013 was slightly stronger than anticipated, adding that it still expects growth of 2.5% in 2014.

However, the bank also said inflation is expected to remain well below target for some time and the direction of the next change to the policy rate will be data dependent.

USD/CAD closed the session down 0.45% at 1.1042.

And the Australian dollar moved higher, despite the Reserve Bank of Australia indicating the Aussie needs to keep falling if the economic recovery is to take hold.

AUD/USD climbed 0.39% to 0.8987.

Finally, the New Zealand dollar moved higher against the greenback as concerns about the crisis in Ukraine ease.

NZD/USD climbed 0.35% to 0.8419.

S. dollar pared gains against the yen on Wednesday, following the release of disappointing U.S. private sector payrolls data.

This mornings ADP nonfarm payrolls data showed that the U.S. private sector added 139,000 jobs in February, well below expectations for an increase of 160,000.

And there was more bad news later on when the Institute of Supply Management said its non-manufacturing purchasing manager’s index fell to a 43-month low of 51.6 last month from 54.0 in January. Confounding expectations for a fall to 53.5 in February.

The data caused the dollar to give-up ground against the Japanese yen which suffered in risk-off trading after tensions eased in the standoff between Ukraine and Russia.

USD/JPY ended the session up 0.10% at 102.32, down from a high of 102.55 earlier.

While the euro trimmed losses against the dollar after this mornings data. The single currency couldn’t find any friends this morning, despite data showing that euro zone private sector activity grew more rapidly than initially estimated in February, expanding at the fastest pace since June 2011.

Investors remain wary of this weeks European Central Bank’s meeting on Thursday amid concerns that the bank could tighten monetary policy.

EUR/USD ended the session down 0.03% at 1.3738, up from a low of 1.3707 earlier.

The pound also found support this morning after official data showed that activity in the U.K. service sector dipped in February, but growth remained robust.

GBP/USD ended the session up 0.40% at 1.6731.

Elsewhere, the U.S. dollar fell against the Canadian dollar after the Bank of Canada left rates on hold at 1.00% on Wednesday, a decision that was widely anticipated.

The bank said economic growth in the fourth quarter of 2013 was slightly stronger than anticipated, adding that it still expects growth of 2.5% in 2014.

However, the bank also said inflation is expected to remain well below target for some time and the direction of the next change to the policy rate will be data dependent.

USD/CAD closed the session down 0.45% at 1.1042.

And the Australian dollar moved higher, despite the Reserve Bank of Australia indicating the Aussie needs to keep falling if the economic recovery is to take hold.

AUD/USD climbed 0.39% to 0.8987.

Finally, the New Zealand dollar moved higher against the greenback as concerns about the crisis in Ukraine ease.

NZD/USD climbed 0.35% to 0.8419.

- See more at: http://www.forexnews.com/blog/2014/03/05/dollar-pares-gains-vs-yen-payrolls-data-disappoints-top-forex-news/#sthash.COgL1xdy.dpuferfkjerfkjnerfkerjrkjkjrkrkjrkjerkjrekjerkjer

The U.S. dollar pared gains against the yen on Wednesday, following the release of disappointing U.S. private sector payrolls data.

This mornings ADP nonfarm payrolls data showed that the U.S. private sector added 139,000 jobs in February, well below expectations for an increase of 160,000.

And there was more bad news later on when the Institute of Supply Management said its non-manufacturing purchasing manager’s index fell to a 43-month low of 51.6 last month from 54.0 in January. Confounding expectations for a fall to 53.5 in February.

The data caused the dollar to give-up ground against the Japanese yen which suffered in risk-off trading after tensions eased in the standoff between Ukraine and Russia.

USD/JPY ended the session up 0.10% at 102.32, down from a high of 102.55 earlier.

While the euro trimmed losses against the dollar after this mornings data. The single currency couldn’t find any friends this morning, despite data showing that euro zone private sector activity grew more rapidly than initially estimated in February, expanding at the fastest pace since June 2011.

Investors remain wary of this weeks European Central Bank’s meeting on Thursday amid concerns that the bank could tighten monetary policy.

EUR/USD ended the session down 0.03% at 1.3738, up from a low of 1.3707 earlier.

The pound also found support this morning after official data showed that activity in the U.K. service sector dipped in February, but growth remained robust.

GBP/USD ended the session up 0.40% at 1.6731.

Elsewhere, the U.S. dollar fell against the Canadian dollar after the Bank of Canada left rates on hold at 1.00% on Wednesday, a decision that was widely anticipated.

The bank said economic growth in the fourth quarter of 2013 was slightly stronger than anticipated, adding that it still expects growth of 2.5% in 2014.

However, the bank also said inflation is expected to remain well below target for some time and the direction of the next change to the policy rate will be data dependent.

USD/CAD closed the session down 0.45% at 1.1042.

And the Australian dollar moved higher, despite the Reserve Bank of Australia indicating the Aussie needs to keep falling if the economic recovery is to take hold.

AUD/USD climbed 0.39% to 0.8987.

Finally, the New Zealand dollar moved higher against the greenback as concerns about the crisis in Ukraine ease.

NZD/USD climbed 0.35% to 0.8419.

- See more at: http://www.forexnews.com/blog/2014/03/05/dollar-pares-gains-vs-yen-payrolls-data-disappoints-top-forex-news/#sthash.COgL1xdy.dpuf