“The dollar fell against the majority of its most-traded peers before reports likely to show U.S. companies hired fewer workers and manufacturing cooled.
The Dollar Index declined before the private ADP Employers Services report is released today, followed by the non-payroll figures on June 3. The euro advanced to a three-week high versus the greenback amid speculation Greece is close to an agreement on aid to ease its debt burden. The Swiss franc strengthened as data showed retail sales rose at the fastest rate for two years.
“The markets are shifting their focus, particularly from the intense concerns over debt restructuring, and we’ve had a series of weak economic data in the U.S.,” said Derek Halpenny, European head of currency research at Bank of Tokyo-Mitsubishi UFJ Ltd. in London. “If there’s any evidence of a considerable worsening in the employment situation, I think that would certainly hit confidence pretty significantly.”
The dollar was little changed at $1.4405 per euro as of 10:23 a.m. in London, after dropping 0.5 percent to $1.4448, the weakest since May 6. It declined 0.2 percent to 81.36 yen. The euro fetched 117.19 yen from 117.37 yesterday, when it reached 117.80, the highest since May 5.
IntercontinentalExchange Inc.’s Dollar Index, which measures the greenback against the currencies of six trading partners, was at 74.58 after declining as low as 74.39, also the lowest since May 6.”
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