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Greenback Eroding Post-Payrolls Gains In Recent Trade

USD
  • The US dollar has been slowly edging lower after the past hour, further erasing the substantial NFP-inspired kneejerk reaction higher.
  • While USDJPY remains a way off pre-NFP levels, GBPUSD has now recovered the move entirely and eyes the overnight high just below 1.23 before yesterdays high at 1.2310.
  • In similar vein, EURUSD edging back towards pre data levels at 1.0537 before more meaningful resistance at 1.0545 and 1.0559 (2.00 proj of the Sep 28 - Oct 4 - 13 price swing).
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