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Currency Markets the dollar was on the defensive against its peers on Friday after soft service sector employment data dampened expectations the Federal Reserve would hike interest rates soon, looking to U.S. non-farm payrolls later in the session for possible relief. The euro was nearly flat at $1.0939 after rising 0.8 percent overnight. The dollar was little changed at 113.62 yen after being nudged off the previous day's high of 114.28. The Australian dollar stood at $0.7367, holding near a th…
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Market Update
The US dollar was strongly bearish against all its counterparts on Wednesday. On the economic data front, the MBA mortgage applications index fell 2.6% in week ended Jan. 29 after rising 8.8% in prior week. The ADP national employment in the US shows 205K new workers in January (from 267K workers in December) as the labor market continued to power past a growth slowdown and financial-market volatility. In other news, the US PMI activity fell to 53.2 in January, down from 53.7 in December. Finall…