Dollar turns lower after disappointing jobs data

The US dollar fell against most of its peers on Wednesday after the release of disappointing economic data.

ADB data showed today that the US private sector added 307K new jobs in November after adding 407K in October, missing forecasts of 433K.

The data comes two days ahead of the US Labor Department's monthly jobs report for November, amid forecasts that the US jobs market will continue to recover from the coronavirus pandemic.

The United Kingdom announced today granting of a license to Pfizer and BioNtech for the emergency distribution of their Covid-19 virus vaccine.

The administration of the outgoing US President Donald Trump is also preparing to distribute two vaccines ahead of Christmas holidays.

The dollar index fell against a basket of major currencies by 0.1% to 91.1 points as of 18:44 GMT, after hitting a high of 91.5 points and a low of 91.1 points.