Currency comment 3/8

The dollar saw a moderate rise on Wednesday on improving volume.  The main factor in the rise was a report from ADP that showed new job creation in February was an astounding 298,000.  This compares with the average analysts’ guess of 198,000 new jobs for February. There continues to be hesitation in adding to long dollar positions, however, if we see a hot number in Friday’s report the urge to buy dollars will ratchet higher.