U.S. Dollar banknote is seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration NEW YORK/LONDON, Aug 2 (Reuters) – The dollar rose on Wednesday as investors shrugged off Fitch’s U.S. credit rating downgrade while data showing a larger-than-expected increase in private payrolls in July bolstered the greenback as it points to labor market resilience.

Private payrolls rose by 324,000 jobs last month, the ADP National Employment report showed, more than an increase of 189,000 that economists polled by Reuters had forecast.

Advertisement · Scroll to continueThe U.S. labor market is gradually slowing after the Federal Reserve’s hiking of interest […]

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