The US dollar, which initially recorded losses, rebounded after receiving support from the FOMC minutes of the FOMC minutes which suggested the US central bank may act more quickly to increase rates.
According to a recent press conference report, basic wagers feel the balance sheet may be reduced to a reasonable rate and conditions for an increase in benefits may be met earlier if inflation remains high and labor market expansion continues.
This at the same time spurred an initial increase in the US dollar to trade more strongly than most major currencies.
Prior to that, the greenback dollar traded weaker although the private sector ADP jobs data reading showed a stronger reading than expected in the New York session.
This decline may be influenced by investors looking to take advantage of getting US dollars at a lower price before the minutes are issued.
Employment in the US private sector showed a stimulating increase by rising to a 7-month high of 807,000 in December.
Following the release of the minute, the commodity-linked currency shed daily gains, seeing the Aussie dollar, kiwi and loonie trading lower versus the USD in the Asian session.
However, in contrast to trading in the pound, which jumped to a new 2-month high, supported by expectations that the Central Bank of England (BOE) will raise interest rates once again next month.
