Second month in a row that you could have mailed me the number and I would have turned my position into a hash….
I would not have been alone, apparently.
USD/JPY gyrated in a 100 point range after the data with the initial dip bought by a very high-profile hedge fund and Japanese institutional investors, sourced say.
EUR/USD ticked up toward session highs as equities rallied after a dip only to reverse to the downside again. EUR/USD slipped to fresh session lows at 1.4217 in the process.
The fear at the moment is that the rising unemployment rate will be chilling for consumer spending which has been sluggish to begin with.
Strong support is seen in the 1.4180/90 area on further dips. Stops are eyed in the 1.4170.