Scotiabank comments on Friday blockbuster nonfarm payroll result, yeah it strong but the Fed is on hold so …
- "constructive" jobs report
- despite the downward revision to the previous month
is likely to give little support to the USD
- because the Federal Reserve has made clear it is now on hold
Their 'in a nutshell' response is:
- "Good data and no risk of the Fed responding is only marginal help for the dollar -- and perhaps no help at all."
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Someone better tell USD/JPY!
