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US dollar jumps as US jobs growth (and wage growth) remains strong

US dollar jumps as US jobs growth (and wage growth) remains strong

Not so fast.

In the last month the market has been piling into 'pivot' trades around the idea of a Fed top at 5% and a turn in the economy. Jobs are a lagging indicator but aside from some pockets of softness in tech and manufacturing, there isn't widespread softness.

Dollar longs were certainly a crowded trade a month ago but much of that has been cleared out -- particularly USD/JPY -- and that left the market vulnerable in the other direction into today's non-farm payrolls repor... Read More

Posted: Dec 2 2022, 13:46
Author Name: forexlive
Views: 102553

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