020 7898 0500The US dollar rose to its highest level in five days on Wednesday, just below a two-month peak, as US private sector payroll figures rose more than expected for February. 298,000 jobs were added by private sector employers last month, well above the gain of 190,000 predicted by economists, pushing the dollar to its highest level since 3rd March against a number of its peers.
Today sees more jobs data from the US in the form of unemployment claims. This and tomorrow’s non-farm payroll data will be closely scrutinised as we await the Federal Reserve’s interest rate decision next week. If positive, an interest rate hike by the Federal Reserve of 0.25% seems certain.
