Dollar rises against euro, pound, yen a day after Dow record; positive jobs data boosts dollar

NEW YORK, N.Y. – The dollar rose against most major currencies Wednesday, a day after the Dow Jones industrial average closed at an all-time high. Traders also bought the dollar following positive signs on the U.S. job market.

The euro fell to $1.2994 in late trading Wednesday from $1.3040 late Tuesday. The British pound fell to $1.5039 from $1.5115.

After the Dow closed at a record high of 14,253.77 Tuesday, it moved it higher on Wednesday, closing at 14,296.24

Payroll processor ADP said Wednesday that private employers added 198,000 jobs in February. The figure suggests that Friday’s February employment report from the U.S. government may come in above economists’ forecasts.

The dollar rose to 94.06 Japanese yen from 93.29 Japanese yen, to 0.9479 Swiss franc from 0.9417 Swiss franc and to 1.0311 Canadian dollar from 1.0277 Canadian dollar.