NEW YORK ( BBH) -- The U.S. dollar was broadly higher again ahead of Wednesday's ADP private-sector jobs report, which may show that 100,000 jobs were added in December. As such, a number in line with consensus (or higher) may extend dollar gains as investors re-establish long dollar positions. After reaching the upper end of its recent trading range, the euro continued to fall for a third straight day, despite better-than-expected PMI data. At the same time, the euro continues to suffer on concerns governments will struggle to raise funds, while the convincing break of $1.3250 suggests further weakness. Sterling, too, traded correctively after early buying momentum ran its course following the drop in construction PMI. Elsewhere, commodity currencies have reached a multi-day low on the back of profit-taking as commodity prices trade on a lighter footing. The Norwegian krone was the weakest mover versus the dollar and the Australian dollar continues to struggle due to the severe floods impacting Queensland and the subsequent outlook for the Australian economy. Global bond markets were mostly higher. In the first test of investor's appetite in 2011 for European periphery debt, Portuguese 10-year yields were up 1 basis point. Indeed, Portugal sold €500 million of six-month bills at an average yield of 3.686%, a steep rise in the refinancing costs compared to the yield of 2.045% in September's auction. Elsewhere in Europe, the Greek-German 10-year spread widened to a record of 975 basis points, while Spanish and French 10-year yields were down 4 basis points.