The US dollar rose broadly against a basket of currencies after government data showed the US economy created private sector jobs that were the highest in almost three years.  The Labor Department reported employers added 162,000 jobs in March and private sector jobs rose to 123,000 while the unemployment rate held steady at 9.7% for the third straight month.  The report suggests the labor sector is on a gradual and steady recovery, affirming expectations that the Federal Reserve may raise interest rates ahead of the European Central Bank, Bank of England and Bank of Japan.    

The euro and the British pound weakened after positive payroll news out of the US.  With a holiday being observed today and Monday in both countries, there is no economic news driving the market.

The Japanese yen continues to weaken after better than expected payroll data from the US.  The Bank of Japan is ready to ease its ultra-loose policy in its battle with deflation.  BOJ has become more confident about the economic recovery with growth overshooting its forecast as companies benefit from strong exports to emerging Asia. 

 The Canadian dollar came close to breaking parity overnight as oil prices hit an 18-month high but soon lost those gains after positive economic news out of the US.     

The Australian and New Zealand dollars held on to recent gains vs. the US dollar as oil prices rose for the fourth straight day settling near $85 a barrel.  With a holiday in both Australia and New Zealand there is no economic news. 

Indicative rates:

EUR/USD

1.3532

USD/JPY

94.23

GBP/USD

1.5236

USD/CAD

1.0057

USD/MXN

12.2883

USD/CHF

1.0594

AUD/USD

0.9238

NZD/USD

0.7100

10-Year Treasury Note Yield:  3.946%

Dow Jones Industrial Average:  10,927.07 + 70.44