Lower-than-expected US private payrolls data drags the Dollar Index down, lifting EUR/USD toward 1.1600.
EUR/USD climbed toward 1.1600 after softer-than-expected ADP employment data pressured the US Dollar. The Dollar Index slipped, testing support near 99.50, a level critical to maintaining its bullish outlook.
The ADP report showed weaker private-sector job growth, contrasting with recent labor market resilience. Markets now await US jobless claims and nonfarm payrolls data later this week, which could drive further volatility.
Currency traders are monitoring the Dollar Index’s ability to hold above 99.50, as a break below could signal deeper losses for the greenback.