Dollar moves. Dollar consolidates.
The forex market reacted quickly to the stronger than expected US employment report. For the EURUSD the 1st minute set the low for the day at 1.07018. The closest the market got back to that level was at 1.0706. For most of the day, the pair waffled between 1.0720 and 1.0751 - a 30 pip range.
For the GBPUSD the first minute took the price to a low of 1.5029. There were two separate extensions. One to 1.50276 and the second to 1.50265. Not much momentum on the new lows. The post employment high extended to 1.50859. The range - post the data - was 60 pips.
The USDJPY was able to extend the range up more than what we have seen in the EURUSD and the GBPUSD. Moreover, the gains are seen over the last hour or so (above 123.08) is holding. The price is just not going anywhere, fast.
