Chirstina Romer, head of the Council of Economic Advisers, says that today’s employment report is the most hopeful sign yet that the economy may be headed for an improved labor market. She cautions that too much should not be read into one month’s data but that the economy is clearly moving in the right direction.
The greenback is firming across the board, up 1% versus the DXY. Unwinding of stake dollar shorts is being seen even against commodity currencies like AUD even though a rebounding US economy would boost global demand. Perhaps things were a bit speculative after all.
