The Dollar firmed across the board in N.Y. on Thursday, with stronger data and firmer yields driving the DXY to three-week highs of 90.55, up from 89.92 lows seen into the open. A much better ADP private payrolls print got the ball rolling, while pandemic lows in initial jobless claims, and a bump up in the services ISM helped USD sentiment as well. The firmer prices paid component stirred up inflation concerns, which helped yields higher. Friday will be all about the May BLS employment report, where upside risk to our NFP estimate of 700k remain following today’s strong ADP report.

The dollar has continued to meander towards Friday’s May U.S. jobs report, as have Treasuries, with the 10-year note and 30-year bond yields continuing to oscillate around the 1.60% and 2.30% levels, respectively. The DXY USD index has lifted back above 90.10 after yesterday dipping to a low at 89.88, but has remained short of Wednesday’s high at 90.25. The dollar has been consolidating losses seen over April and May above the five-month low that was seen at 89.54 on May 25. EUR-USD has settled back under 1.2200, while Cable seems to have settled in a range centred around the 1.4150 mark.

The dollar has continued to meander towards Friday’s May U.S. jobs report, as have Treasuries, with the 10-year note and 30-year bond yields continuing to oscillate around the 1.60% and 2.30% levels, respectively. The DXY USD index has lifted back above 90.10 after yesterday dipping to a low at 89.88, but has remained short of Wednesday’s high at 90.25. The dollar has been consolidating losses seen over April and May above the five-month low that was seen at 89.54 on May 25. EUR-USD has settled back under 1.2200, while Cable seems to have settled in a range centred around the 1.4150 mark.