- US non-farm payrolls rise 121,000 in March; unemployment rate falls to 8.2% as labor force shrinks
- February payrolls revised down to 203,000 from 227,000
- Greek interior minister says Elections seen on May 6 or possibly May 13
- US 10-year note yield falls to 2.05% from 2.18% before data
- S&P 500 futures fall 1.2%; cash markets closed
The dollar fell broadly on the disappointing US employment report. Yields were particularly hard-hit as traders were forced to price the possibility of a third round of Fed bond-buying into the markets. Lingering European concerns helped keep EUR/USD rallies limited to the 1.3110 area before stalling. We end our coverage with EUR/USD around 1.3085, up 20 pips from opening levels.
USD/JPY bore the brunt of the bad news, gapping from 82.50 to 81.93 and eventually taking out stops below 81.50 before stabilizing. We traded as low as 80.30, briefly. We end at 81.53.
EUR/JPY ends at 106.68 from 1.0785 before the data.
