US dollar recoups non-farm payrolls decline
The US dollar has bounced back to recover most of the losses after a soft non-farm payrolls report. As I highlighted, there were plenty of decent details and caveats in the report to keep anyone from panicking about the state of the US economy.Next week, we'll get the latest JOLTS report and it will surely show job openings remaining near a record high.
The bond market is in charge at the moment with US 10-year yields down up 1.8 bps on the day to 1.59%. The fell to 1.56% right after the jobs report but are back to pre-NFP levels and not far from the Asian high of 1.61%. There isn't much standing in the way on the upside:
