The world's reserve currency fell against the Japanese yen after marking earlier gains that pushed it to month-highs against the monetary unit of the Pacific Rim nation, according to Bloomberg.
In the aftermath of ADP Research Institute released data stating U.S. firms created 179,000 jobs in May, the dollar fell against its rival. April job creation amounted to 215,000 jobs. The U.S. Labor Department is scheduled to release labor market data later this week.
"What we've seen this week is reality bites and it's as simple as that," head of currency research Simon Derrick with Bank of New York Mellon in London told Reuters during the midweek trading session. "There is a realization taking place that the Fed is concerned by the scale of risk-taking that is going on and as such it will plough on with tapering and will be as realistic on monetary policy as it can be."
U.S. Treasury yields' upward drive this week also has proven to be beneficial to the performance of the U.S. dollar, according to Reuters.
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