Here’s what I wrote immediately after non-farm payrolls:
The kneejerk higher in the US dollar was no surprise and doesn’t say much about the underlying strength of US dollar demand.
How a market reacts to good news is more important than the news itself. If the US dollar can’t hold these levels, it shows that the trend is out of gas; that the dollar bulls are tired and that a genuine correction is coming.
The dollar finished the week near the highs, right across the board.
All the hipsters love the US dollar right now