January 4, 2018 / 1:37 PM / 9 months ago

FOREX-Dollar rises vs yen, trims losses vs euro after U.S. ADP jobs report

NEW YORK, Jan 4 (Reuters) - The dollar extended gains against the yen and briefly trimmed losses versus the euro on Thursday after data showed the U.S. economy created more private sector jobs than expected last month, suggesting the Federal Reserve remained on track to raise interest rates several times this year.

A report by ADP Research Institute showed U.S. private employers added 250,000 jobs in December, the biggest monthly increase since March. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 190,000 jobs, with estimates ranging from 165,000 to 225,000.

The dollar rose to 112.76 yen after the data from around 112.63 yen, while the euro pared gainns to $1.2055 from $1.2063 before the ADP release. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama )

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