FX Closing Comments

This morning's disappointing non-farm payroll release send the Dollar sharply lower against other majors. Next week will bring an FOMC meeting, and the consensus is for another .25% rise in the Federal Funds rate. Where is gets interesting is the June meeting. Today's employment figure does not bode well for an additional increase, though previous indicators have been robust. The other major release next week will be the Treasury's trade numbers for March, which are expected to show an overall $68.6b deficit. Arguably, this is the biggest Dollar negative at present.