The dollar started the month and the second half of 2015 on a strong footing Wednesday, rising against the yen and euro after ADP employment report showed strong pace of job growth in June.
that the U.S. economy added 237,000 new jobs in June.
The ADP number beat an estimate, showing that the U.S. economy added 237,000 to new jobs in June, by nearly 20,000 jobs, quickly sending the dollar through 123 yen, and the euro below $1.11. The dollar had found resistance at both of those levels earlier in the session.
The dollar USDJPY, +0.56% traded at 123.10 yen, up from ¥122.43 late Tuesday in New York. The euro EURUSD, -0.6463% traded at $1.1090, down from $1.1131 late Tuesday.
Reports surfaced Tuesday evening that the Greek government and its international creditors were close to an agreement.
But hopes for a deal were dashed when Greece’s international creditors rejected the country’s latest proposal for a new bailout. The euro briefly spiked on the news, continuing a trend of the common currency rallying when the Greek situation deteriorates.
The U.S. Dollar Index DXY, +0.62% a measure of the dollar’s strength against a basket of six currencies, was up 0.5% at 95.9520 after the report.
The ADP report is considered an important indicator for the Department of Labor’s employment estimate, but it has underestimated job gains in five of the last seven months.
The ISM Manufacturing Index, a widely watched gauge of U.S. manufacturing sector strength, is expected at 10 a.m. Eastern. Economists polled by MarketWatch forecast a reading of 53.2%
