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Forex - Dollar mixed in early Asian trade

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Forexpros - The U.S. dollar was mixed against its major counterparts Wednesday, following a rebound on Wall Street and suggestions from the Federal Reserve that monetary stimulus for the U.S. economy was in the pipeline.

In early Asian trade, the greenback was lower against the euro, with EUR/USD rising 0.17% to hit 1.4345.

Stocks on Wall Street turned the corner on an eight-day skid, their longest since October 2008, posting gains on encouraging labor data.

Earlier in the day, data payroll processing firm ADP reported that non-farm employment in the U.S. rose more than expected to a seasonally adjusted 114K in July, from 145K the preceding month . Analysts had expected a 100K change in the previous month.

The Dow Jones Industrial Average rose 0.3% to 11,896.44, the Nasdaq Composite Index climbed 0.9% to 2,693.07 and the S&P 500 advanced 0.5% to 1,260.34.

Helping to boost market sentiment were comments from Former Federal Reserve Vice Chairman Donald Kohn, who told the Wall Street Journal the Fed could consider a new round of stimulus for the economy.

The greenback was up against the pound with GBP/USD adding 0.03% to 1.6432.

The dollar gained ground against both the yen and the Swiss franc with USD/JPY advancing 0.05% to hit 77.06, and USD/CHF higher by 0.01% to hit 0.7702.

The greenback was mixed against its Canadian, Australian and New Zealand counterparts with USD/CAD down 0.16% to hit 0.9604, AUD/USD up 0.20% to hit 1.0776, and NZD/USD lower by 0.12% to hit 0.8645.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.01% at 74.19.

Weekly jobless claims figues were due for release Thursday from the U.S. Department of Labor.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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