The U.S. dollar hit an 11-year high against the euro Wednesday after pushing through a key technical threshold, shrugging off a weaker-than-expected ADP jobs report and strong eurozone reports.
The euro EURUSD, -0.16% tumbled to $1.1073, its lowest level since late 2003.
The dollar USDJPY, +0.15% inched higher against the yen after a measure of February service-sector activity in the U.S. came in higher than analysts had expected. The dollar traded at ¥119.70, compared with ¥119.67 late Tuesday.
The pound GBPUSD, -0.10% traded at $1.5258, compared with $1.5362 Tuesday.
The ICE U.S. Dollar Index DXY, +0.18% a measure of the dollar’s strength against six of its largest trading partners’ currencies, was 0.62% higher at 95.9750.
On Nymex, April gasoline RBJ5, +0.11% fell 2.4 cents, or 1.2%, to $1.926 a gallon and April heating oil HOJ5, -0.15% ended at $1.901 a gallon, down 3.8 cents, or 2%.
On Thursday, the EIA will release its weekly report on natural-gas supplies. April natural gas NGJ15, +0.72% settled up 5.7 cents, or 2.1%, at $2.769 per million British thermal units.
U.S. oil futures finished higher on Wednesday, despite a spike in U.S. weekly crude supplies, as a move by Saudi Arabia and comments from its oil minister implied strength in demand for oil.
Crude for delivery in April CLJ5, +0.43% climbed $1.01, or 2%, to settle at $51.53 a barrel on the New York Mercantile Exchange. Prices had dropped below $50 after a government report showed that weekly crude supplies jumped by more than 10 million barrels.