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Posted March 2nd, 2016 by Charles Purdy

Busier day for US dollar

Tuesday saw little movement for the US dollar, as it remained at one-month highs against the other major currencies. It remained steady against the euro as optimism over the strength of the US economy continued to support the US Dollar. The dollar fell slightly against sterling during the afternoon, despite weak UK Purchasing Managers’ Index (PMI) data, before returning to similar levels seen in the morning.

Today will see the release of ADP non-farm employment data from the US, which is expected to come out at 185,000, lower than last month’s figures of 205,000. Crude oil inventories data is also due to be released which may cause some movement, particularly against the Canadian dollar.

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