EUR/USD has been swinging around in the wake of the employment report but is contained within recent ranges. A knee-jerk dollar selloff is being reversed with the data falling short of the most dire predictions but still quite poor. Continued risk aversion is likely to persist.
USD/JPY saw a short-covering rally after the data as the market went into the data expecting the worst. Prices have eased back to the 91.10 level after a spike to 91.50.
