Fresh low of the day for the US dollar
The Australian dollar and yen have made fresh highs as the US dollar continues to skid.
- EUR/USD is above the pre-NFP levels
- USD/JPY is back at 124.75, where it was before the jobs report
- Cable has erased the non-farm payrolls decline
- AUD/USD remains 40 pips below pre-NFP levels
The inability of the US dollar to galvanize any momentum following a very strong jobs report hints at the level of caution in markets at the moment. Part of the reason is the narrowing is the narrowing spread in Treasuries over German bunds.
