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Headline Miss Puts USD on Backfoot, 10y Yields Flash Lower

DATA REACT
  • Initial market focus eyes the miss on headline job gains, with only 210k jobs added - less than half the median expectation.
  • Markets respond by selling USD, which initially boosts EUR/USD to touch 1.1333 and GBP/USD to 1.3310. US Treasury yields dip across the curve, pushing the 10y yield lower by around 2bps before finding support ahead of 1.40%.
  • Much of the initial move has already begun to reverse and moderate, with the Bloomberg USD Index retracing around 50% of the initial dip.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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