The US dollar is visibly weaker today, but trading has remained exceptionally quiet with the EUR/USD trapped within a 35 pip trading range for the past 24 hours.
Even though non-farm payrolls fell short of expectations, the sell-off in the US dollar has been limited. Why was there such odd price action in the greenback? Two reasons.
For the past few months, the stability of the labor market has pacified the markets concern about the housing market because as long as people have jobs, they will continue to pay their mortgages.
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