On Wednesday after worse-than-expected U.S. private-sector jobs data boosted safe-haven demand, the dollar rose, whereas the yen fell broadly on fears monetary authorities may step in to stem the currency’s strength.

Euro fall

A drop in the euro has been seen by the traders which is ahead of a policy meeting on Thursday of the European Central Bank. In which it is expected to announce the details of how and when it will remove generous liquidity from the system, and could upgrade its economic growth forecasts.

Reasons of Dollars Rise

Reducing fears over Dubai’s debt problems weighed on the safe-haven dollar, but much support has been offered by talk of Asian central bank buying and the greenback’s gains versus the yen.

ADP Employer Services Report

It has been shown by a report of ADP Employer Services that in November the U.S. economy shed 169,000 private-sector jobs. While that was less than the 195,000 lost in October, but  it was still higher than forecasts for a decline of 155,000.

Dollar against Yen

In early trading, the dollar maintained its position at 87.21 yen JPY=, which has raised up 0.7% on the day and pulling further away from a 14-year low of 84.82 yen hit on electronic trading platform EBS last week.

Euro

The euro raised up 0.6% at 131.47 yen EURJPY= but it has dropped down 0.1% against the dollar EUR= at $1.5073. Last week on EBS the euro zone single currency hit a near 16-month high of $1.5145.

Dollar index .DXY

The dollar index .DXY, was up 0.2 percent on the day at 74.514. It was the index by which the greenback is measured against a basket of six other major currencies, but it is not far above last week’s 16-month low of 74.170.

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