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EUR/USD upended by surging US payrolls

The dollar has come right back with a bang this afternoon and rightly so after that US jobs report. The EUR/USD has now dropped back close to the 1.08 handle and it is at risk of setting a fresh 2024 low. If it were to do that then it would not exactly be a surprise given that data. There is no disguising it; it was impressive on all counts. Even manufacturing jobs, which have been languishing, showed a decent gain last month. The USD/JPY is still pressing higher as I write too and climbing closer to the 148 handle right now and that is adding further pressure onto the EUR/USD, which is currently trading at 1.0823 

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