- Some USD long unwinds took hold in Europe.
- EUR/USD lifted from the 1.2375 area to sit just below 1.2400 into the US jobs report.
- Bear pressure persisted a bit though and a NY low of 1.2358 was hit.
- US bond yield got hit after the data and their slide deepened. Broad based bear pressure on the USD took hold.
- With US yields unable to mount a comeback a large wave of USD sales hit the market.
- EUR/USD ran stops above 1.2450 and hit a 1.2470 high. A bounce for the USD saw the pair pullback and it sat near 1.2440 late in the day.
The material has been provided by InstaForex Company – www.instaforex.com