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.