British Pound Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.354 (+0.39%). March euro-fx futures (E6H1) closed down -0.0053 (-0.44%), and EUR/USD (^EURUSD) fell -0.0052 (-0.43%). March yen futures (J6H1) closed down -0.0037 (-0.40%), and USD/JPY (^USDJPY) rose +0.39 (+0.36%).
The dollar index on Friday extended Thursday's rally and posted a 3-1/4 month high. A stronger-than-expected U.S. Feb payroll report pushed the dollar higher Friday, along with a jump in the 10-year T-note yield to a 1-year high. EUR/USD (^EURUSD) fell to a 3-1/4 month low on dollar strength.USD/JPY (^USDJPY) rallied to an 8-3/4 month high after BOJ Governor Kuroda pushed back on speculation the BOJ will widen its 10-year bond yield target range.
Friday's monthly U.S payroll data was bullish for the dollar. U.S. Feb nonfarm payrolls rose +379,000, stronger than expectations of +200,000 and the biggest increase in 4 months. Also, the Feb unemployment rate unexpectedly fell -0.1 to an 11-month low of 6.... Read more