US dollar rises on strong non-farm payrolls report

Higher yields drive dollar bid

The US dollar is at the best levels of the day in the aftermath of a surprisingly strong non-farm payrolls report.

The dollar moved higher in lockstep with yields. US 10s are up 5.1 bps to 1.615%, breaking last Thursday’s spike high.

The gains in the dollar pushed EUR/USD below 1.19 in a break below the February low.

Higher yields drive dollar bid

So far though, the moves aren’t running. The initial dollar pops have mostly faded.

The bond market is in charge at the moment though.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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