The Dollar rallied broadly in N.Y. on Monday, taking the DXY to two-plus month highs of 92.44, up from overnight lows of 92.00. USD short-covering appeared to be the main driver through the session, which was prompted by the better ADP jobs report, and the advent of month and quarter-end. The higher than forecast private payrolls print likely raised expectations for Friday’s BLS employment report. Other incoming data on Wednesday saw pending home sales spike higher, and the Chicago PMI come in near expectations. We expect FX activity to slow into Friday’s key jobs data. Thursday’s U.S.

The dollar majors have been trading with little directional impulse. EUR-USD has settled in a narrow range near 1.1900, holding just above yesterday’s nine-day low at 1.1878, and USD-JPY has been plying a sideways range near the 110.50 level, above Tuesday’s eight-day low at 110.48. Cable has remained heavy, though so far holding yesterday’s nine-day nadir at 1.3815.

The dollar majors have been trading with little directional impulse. EUR-USD has settled in a narrow range near 1.1900, above yesterday’s nine-day low at 1.1878, and USD-JPY has been plying a sideways range near the 110.50 level, above Tuesday’s eight-day low at 110.48. Cable has remained heavy, though above yesterday’s nine-day nadir at 1.3815.