NEWS / Foreign Exchange

EUR broke through highs once more and cable continues to climb

Nonfarm payroll numbers came in much higher than expected which may spark an improvement in the USD. Canada posted excellent employment numbers; the economy added five times the projected estimate. Canada's unemployment rate was also released lower than expected and as a result we are seeing an extremely strong Canadian dollar and record lows in USD/CAD.

EUR broke through highs once more and cable continues to climb. However, rumors of emergency funding for a major UK bank may lead to a decline the recent pound's strength.

USD/JPY, Cross/JPY recovered overnight as Asian stock markets were calmer. More JPY trades are unwinding as equity markets in the US took a dive yesterday.