Private employers add jobs, dollar pares losses (MarketWatch) (02-03-2011)

NEW YORK (MarketWatch) -- The dollar pared its losses and Treasury prices briefly slipped a little lower on Wednesday after ADP said private employers added 217,000 jobs in February, more than many analysts expected.

The dollar index, which measures the U.S. currency against six major rivals, stood at 76.930, versus 76.873 before the data and down from 77.049 late Tuesday. The euro rose to $1.3812, up from $1.3777. Yields on 10-year notes, which move inversely to prices, rose 4 basis points to 3.44%.

The dollar and Treasury prices had been down before the ADP data as investors reconsidered their need for safer assets and how different central banks may react to rising oil prices. Still to come is a Federal Reserve buyback of bonds and the release of the U.S. central bank's Beige Book.

Source: MarketWatch