Investing.com - The dollar fell to one-month lows against the euro on Thursday ahead of the European Central Bank’s monthly meeting and was trading close to one-month lows against the yen.
During European morning trade, the euro was higher against the dollar, with EUR/USD rising 0.26% to 1.3125.
The dollar remained under pressure after data on Wednesday showing that the U.S. private sector added fewer-than-expected jobs in May dampened expectations that the Federal Reserve would start to unwind its asset purchase program this year.
Payroll processor ADP said U.S. non-farm private employment rose by a seasonally adjusted 135,000 last month, below expectations for an increase of 165,000.
The data is sometimes seen as an indicator of Friday’s closely watched government report on nonfarm payrolls.
The ECB was not widely expected to make any changes to monetary policy at its monthly meeting later Thursday but the bank’s post-policy meeting press conference with President Mario Draghi would be closely watched.
The dollar edged higher against the yen, with USD/JPY inching up 0.06% to 99.10.
Demand for the safe haven yen continued to be underpinned by weakness in Japanese equities.
The dollar hit one-month lows against the pound, with GBP/USD rising 0.29% to 1.5450.
The Bank of England was expected to keep monetary policy unchanged at its monthly meeting later Thursday after data on Wednesday showed that service sector activity in the U.K. expanded at the fastest rate since March 2012 last month.
The dollar slid lower against the Swiss franc, with USD/CHF down 0.14% to 0.9408.
The greenback was mixed against its Australian, New Zealand and Canadian counterparts, with AUD/USD falling 0.49% to 0.9494, NZD/USD sliding 0.15% to 0.7956 and USD/CAD falling 0.18% to 1.0324.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.21% to 82.40.
The U.S. was to release the weekly report on initial jobless claims later in the trading day.
