After an indifferent start we've seen some direction eventually with the greenback in demand
Ok, so the NFP data wasn't overwhelming one way or another, and the euro demand since has been somewhat overcooked if it's been based on hopes of a Greek deal this week, but the FOMC will not have been thrown off-course by Friday's report
A relief rally was seen at the time and we're seeing one again this morning
USDJPY has chewed its way through good offers at 124.50 and 124.70 while EURUSD has given up early gains to head back to the 1.0925-30 demand area
GBPUSD was capped early on by EURGBP demand but with that pair failing to breach strong res/offers at 0.7100 we've seen demand below 1.5470 and further supply to EURUSD
USDCHF remains well supported as does EURCHF with occasional help from the SNB but the latter has good supply into 1.0800 still
I still don't see a US rate hike in September and believe that the FOMC will continue to run scared/ err on the side of caution in the wake of global economic uncertainty and commodity price weakness
