WSJ: Dollar Falls to Fresh Record Low Vs Swiss Franc
By Andrew J. Johnson
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A new ADP jobs survey provided fresh evidence Wednesday that U.S. labor markets remain weak, which has been a central aspect of dollar weakness for months.
The dollar responded by falling to a fresh record low against the Swiss franc at CHF0.8587.
The dollar fell to its lowest levels versus the euro since November 2009 after ADP said the number of U.S. private-sector jobs rose 179,000 in April as large companies added only 11,000. The headline gain was less than a 200,000 increase expected.
The Federal Reserve's bond-buying plan has thus far failed to stimulate the stubbornly slow U.S. jobs market but has had the effect of eroding the value of the dollar to most currency rivals.
Earlier in Asia, sliding silver and gold prices drove commodity-linked currencies lower, giving the dollar some relief from its recent doldrums.
The euro was recently trading at $1.4909 against the dollar, compared with $1.4826 late in New York Tuesday, according to EBS via CQG. The dollar was down at Y80.95 against the yen, from Y80.97.
-By Andrew J. Johnson, Dow Jones Newswires; 212-416-3092; andrewj.johnson@dowjones.com
