A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration

The dollar eased off of its more than two-week high hit earlier on Wednesday as U.S. economic data came in a bit softer than expected and traders awaited a key jobs report at the end of the week.

U.S. private payrolls rose by the most in seven months in April, ADP data showed on Wednesday, as companies boosted production to meet a surge in demand amid massive government spending and rising COVID-19 vaccinations. But the 742,000 private jobs created fell short of the 800,000 jobs expected by economists in a Reuters poll. read more

In the U.S. services industry, activity eased in April from a record level in March, likely due to shortages of inputs amid a burst of demand, data from the Institute for Supply Management showed. read more

“That’s certainly worrisome for U.S. dollar traders and holding them back from restoring long…

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