The US dollar remained hovering at a 5-month high on Wednesday as markets examined new data components in the US employment report.
The ADP employment data for October showed a gain of 42,000 private jobs after the economy lost 29,000 jobs in the previous month.
While not particularly encouraging, the reading that beat expectations provided a positive signal ahead of the release of the NFP report scheduled for later this week.
Also released in the New York session yesterday was the ISM survey data for the US services PMI which recorded an excellent reading.
In contrast to the same survey for manufacturing which declined earlier in the week, the services sector showed the highest increase since February with a reading of 52.4 in October from the previous 50.0.
However, the movement for the US dollar in the New York session yesterday was a little weak despite the positive economic data.
Prices moved more flat compared to the pattern clearly displayed on Tuesday as the US dollar continued to strengthen.
Market focus today (Thursday) will be on the Bank of England (BOE) policy meeting with interest rates expected to remain at 4.00%.
In addition to the governor's follow-up statement being scrutinized, investors will also be watching the outcome of the MPC vote on the central bank's interest rate stance.
