USD extended its post jobs-report losses yesterday with treasury yields continuing to decline.
JPY pared earlier losses following Japan PM Ishiba’s announcement he will step down.
EUR gained ahead of a confidence vote in the French government.
*Daily move - against G10 rates at 7:00 am, 09.09.25
** Indicative rates - interbank rates at 7:00 am, 09.09.25
Both GBPUSD and EURUSD tested prior resistance levels overnight without any follow through. These levels could well be tested this afternoon with the release of the Bureau of Labour Statistics' payroll revisions in the year through to March. As ever, anything to suggest that the job market is faring worse than expected, and we will likely see projections for three Fed rate cuts this year firm up causing a weaker USD.
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