Dollar Weak Against Euro And Pound, Uncertain Versus Yen []

The U.S. dollar had a weaker showing against its major counterparts Wednesday in New York. The greenback lost ground to both the euro and the pound, while it was uncertain against the yen. The largest drop came with the release of weaker-than-expected employment data from ADP in the morning and, in the afternoon, a Federal Reserve report stating that parts of the nation have seen an economic slowdown.The dollar lost ground to the euro well into Wednesday afternoon trading in New York. The greenback began to slide after reaching a daily high of 1.3109 at 2:00 am ET. The buck saw its sharpest drop with the release of the Fed's Beige Book at 2:00 pm ET. The drop took the dollar to 1.3177, its lowest level against the euro since the end of last week. By 3:40 pm ET, the pair traded at 1.3178.The buck lost ground to the sterling after choppy trading during Wednesday's early morning in New York. The slide began shortly before the release of the ADP employment data and continued into the afternoon. Shortly after the release of the Fed's Beige Book at 2:00 pm ET the greenback touched a daily low of 1.9339. By 3:40 pm ET, the pair traded at 1.9333.The greenback saw choppy trading against the yen Wednesday in New York. The buck touched a daily low of 116.25 at 8:15 am ET with the release of ADP's employment data. The dollar then climbed to a daily high of 116.62 at 10:45 am ET before entering back into the range it saw in the morning. By 3:40 pm ET, the buck traded at 116.28 against the yen.An employment report released by payroll firm ADP on Wednesday was weaker than expected. The report is seen as a possible predictor of Friday's employment data from the U.S. government. Wednesday's report said that private non-farm employment grew a modest 57,000 in February following an increase of 121,000 in January. Economists had been expecting employment to increase by about 100,000. The Fed announced its Beige Book at 2:00 pm Eastern Time. The compilation of anecdotal economic information showed that some of the central bank's regional districts saw signs of decelerating growth in the past month and a half. The continued concern about the economy brought buyers into the bond market, sending treasury yields lower. The 10-year yield finished Wednesday at 4.497%, a drop of 3.1 basis points. This was the first time the yield closed below 4.5% since mid-December. Meanwhile, the 30-year yield fell 1.9 basis points to finish at 4.636%. The 5-year yield closed at 4.443%, a 3.5 basis point drop.