Kathy Lien submits:

The U.S. non-farm payrolls report and the ECB interest rate decision did not disappoint us by generating a tremendous amount of volatility in the currency market. The U.S. dollar rallied against every major currency except for the Japanese Yen which indicates that risk aversion drove the dollar higher. Equities fell more than 2 percent after job losses exceeded the market’s forecast by more than 100k. A total of 467k Americans lost their jobs in June, driving the unemployment rate up 9.5 percent to the highest level since 1983. The Australian dollar was hit the hardest as the drop in gold prices exacerbated the selling. U.S. equity, futures and commodity markets are closed for trading on Friday in observation of the July 4th holiday. Forex markets will be open as usual but the absence of NY traders will certainly be felt.

How Does the Dollar Trade on July 4th Holiday?

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