The U.S. dollar index edged up in late trading on Wednesday after Gary Cohn, the chief economic advisor to U.S. President Donald Trump, resigned from his post.
Cohn, a "globalist" within the White House, has been mounting a last-ditch attempt to head off Trump's new tariff plan on steel and aluminum.
Analysts said Cohn has been seen as a voice of reason in a White House that is seemingly in constant turmoil and he opposed the implementation of tariffs. His departure raised concerns about a potential trade war in the near future.
On the economic front, U.S. private sector employment increased by 235,000 jobs from January to February, according to the latest ADP National Employment Report on Wednesday, beating market expectations.
The report was widely seen as a preview of the U.S. Labor Department's monthly nonfarm payroll report, which is scheduled for release on Friday.
Meanwhile, the Commerce Department announced Wednesday that the goods and services deficit was 56.6 billion U.S. dollars in January, up 2.7 billion dollars from 53.9 billion dollars in December, revised.
The dollar index, which measures the greenback against six major peers, was up 0.02 percent at 89.645 in late trading.
In late New York trading, the euro was unchanged from previous day's reading of 1.2405 dollars, and the British pound was up to 1.3894 dollars from 1.3889 U.S. dollars in the previous session. The Australian dollar decreased to 0.7817 dollar from 0.7819 dollar.
The U.S. dollar bought 106.08 Japanese yen, lower than 106.22 Japanese yen of the previous session. The U.S. dollar rose to 0.9436 Swiss franc from 0.9406 Swiss franc, and it increased to 1.2927 Canadian dollars from 1.2901 Canadian dollars. Enditem
Cohn, a "globalist" within the White House, has been mounting a last-ditch attempt to head off Trump's new tariff plan on steel and aluminum.
Analysts said Cohn has been seen as a voice of reason in a White House that is seemingly in constant turmoil and he opposed the implementation of tariffs. His departure raised concerns about a potential trade war in the near future.
On the economic front, U.S. private sector employment increased by 235,000 jobs from January to February, according to the latest ADP National Employment Report on Wednesday, beating market expectations.
The report was widely seen as a preview of the U.S. Labor Department's monthly nonfarm payroll report, which is scheduled for release on Friday.
Meanwhile, the Commerce Department announced Wednesday that the goods and services deficit was 56.6 billion U.S. dollars in January, up 2.7 billion dollars from 53.9 billion dollars in December, revised.
The dollar index, which measures the greenback against six major peers, was up 0.02 percent at 89.645 in late trading.
In late New York trading, the euro was unchanged from previous day's reading of 1.2405 dollars, and the British pound was up to 1.3894 dollars from 1.3889 U.S. dollars in the previous session. The Australian dollar decreased to 0.7817 dollar from 0.7819 dollar.
The U.S. dollar bought 106.08 Japanese yen, lower than 106.22 Japanese yen of the previous session. The U.S. dollar rose to 0.9436 Swiss franc from 0.9406 Swiss franc, and it increased to 1.2927 Canadian dollars from 1.2901 Canadian dollars. Enditem
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