USD at session highs

The US dollar rose around 25 pips across the board after the ADP employment report beat estimates and unit labor costs rose at a faster pace than expected.

The US dollar took a stumble yesterday after the ISM manufacturing report fell to the lowest since 2009 but it's right back up on the horse today.

Three spots to watch

  1. Keep an eye on cable as it nears 1.5000 (spot at 1.5004). Monday's low was 1.4994.
  2. USD/CAD touched above the weekly high but is struggling with offers at 1.3400. Oil is down 66-cents and the BOC is later
  3. USD/JPY is at the highest since Nov 18 at 123.32 but there is some resistance in the 123.75 to 124.00 range.