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Upbeat U.S. data sends euro down again
Euro fell on Wednesday after rising for two straight days, following upbeat U.S. data, which bolstered the dollar and hurt the common currency.
EUR/USD last traded at 1.0611, down from the opening of 1.0645, with an intraday high at 1.0669, and a low at 1.0585.
Euro's drop comes amid expectations of a Fed rate hike amid an influx of strong U.S. data, which raised negative pressure on the euro.
U.S. private sector jobs rose 216 thousand in November according to the ADP index, blowing past expectations of 161K, and way better than October's 147K.
The strong ADP report points to the strength of the U.S. labor sector, bolstering the greenback against major rivals and forcing the euro down after failing to rise this week and capitalize on dollar's earlier decline on profit-taking.
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