You’ve got to wonder what it will take to give this market a proper kick up the arse.
102.23 is the current high, a mere 30 pips from the release
GBP/USD ran down to 1.7101 but has recovered to 1.7125
EUR/USD is still hovering around the lows at 1.3615
The report was strong and the slight fall in hourly earnings will maybe keep some inflation watchers keen.
The fall in the unemployment rate to the lowest since September 2008 may start to swing the hawks round to thinking about reaching the unemployment goals and rate rises
What the report does do is furth increase the view that the Q1 GDP data was a blip.
Onwards and upwards for the US but the dollar is still struggling to catch up.
Bonds aren’t hanging around however, as 10 year yields surge to 2.67% +5 bps
US 10 year yields 03 07 2014
