The greenback is recovering a good deal of the ground lost after the horrid ADP employment report with many questioning whether the new methodology will be any better than the old. Stops below the 1.3650 level are quickly coming into view.
It looks as though bad news for Friday is already priced in as is an aggressive policy response from both monetary is and fiscal authorities in the US. Reacting to each piece of data will make less and less sense in the near-term as the Fed is focused on a very macro policy and the fiscal stimulus will take time to get out the door.
