Even though there was no US data released today, the market had plenty of reasons to be bearish the US dollar.

Derek Frey provides weekly market commentary on currencies for the week of March 12.

The EUR/USD continues to range primarily between 1.3100 and 1.3200.

Currency strategist Boris Schlossberg analyzes the major currencies for the week of March 12.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for March 12.

The European Central Bank has raised its key-lending rate to 3.75%, warning of growing inflation. That puts exactly 325 basis points between the yen and the euro, so the yen carry trade lives on.

Thanks to a stronger than expected non-farm payrolls report, the US dollar staged an impressive end of week rebound. Even though job growth was the weakest in two years, the health of the labor market was better than what many traders were anticipating.

For those looking for the Federal Reserve to lower interest rates in August, they may have to wait a while longer.

A rally above 117.63 suspends the immediate bearish outlook and shifts focus to the next Fib resistance.

Now more than ever, the non-farm payrolls report has the potential to trigger sharp movements in the currency market.