US dollar chops initially after non-farm payrolls, then sags | Forexlive

The market has determined that CPI wasn’t hot enough to frighten the Fed.

The initial market move was choppy in part due to the core m/m reading at +0.5% vs +0.4% expected but the headline and y/y numbers were in-line. At the same time, the sentiment around regional banks is beginning to shore up with no bank failures since Sunday.

Cable is now at the highs of the day with the commodity currencies also at the best levels of the day and the euro not far off.