US dollar chops after non-farm payrolls ...Middle East

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US dollar chops after non-farm payrolls
USD/JPY tells a story of a market that isn't sure what it wants to do with the non-farm payrolls data. The headline beat estimates but it's clearly a dovish report with large downward revisions, higher unemployment and weak private payrolls."Overall, it was a softer read on the labor market, albeit not dramatically weaker," writes Ian Lyngen, fixed income strategist at BMO.Still, USD/JPY is about 30 pips higher than before the data. That highlights that there may have been some angst or bets on dollar weakness that are squaring up after the report. The market is also sorting through the UK election yesterday, French election Sunday and the drama in US politics.The bond market is more-definit

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