September 27, 2021
Economy

FOREX-Dollar weakens after ADP miss, euro hits fresh one-month high

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E By Chuck Mikolajczak NEW YORK, Sept 1 (Reuters) – The dollar fell against a basket of major currencies on Wednesday after a report on the U.S. labor market fell well short of expectations, while the euro held near a one-month high on inflation worries. The greenback added to losses after the ADP National Employment Report showed private payrolls rose by 374,000 in August, up from 326,000 in July but well short of the 613,000 forecast. The report comes ahead of weekly initial jobless claims on Thursday and the key government payrolls report for August, which could provide clues about the Federal Reserve’s policy path. “It’s all about worries about Delta (variant) starting to bleed into the economy and that is what is weighing on the dollar. The market is revising downward their estimates for nonfarm payrolls on Friday in the wake…

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