Why is the dollar going down? The dollar went down against the euro after U.S. labor market data, according to trading data.

The euro rose to $1.0052 against the dollar from the previous close of $1.0012. Before the release of the statistics, the euro fell to $1.0004 against the dollar.

The dollar-yen exchange rate declined to 138.62 yen from 138.79 yen. And the dollar index (the exchange rate against a basket of currencies of the six major U.S. trading partners) was down 0.23% to 108.53 points.

Why is the U.S. dollar going down today?

According to Automatic Data Processing (ADP), the number of jobs at private companies in the US grew by 132,000 in August. The number of jobs in July increased by 270 thousand.

Meanwhile, the country’s unemployment data is expected on Friday. According to experts, the rate in the USA remained at july’s level of 3.5%, while the number of non-agricultural jobs in the economy grew by 300,000 after an increase of 528,000.

Earlier we reported on why the euro is weakening today and why investors’ confidence in further weakening is growing.