Not much adverse reaction to a considerably weaker than forecast UK construction PMI, with Cable pivoting 1.3850.
The Dollar is holding above Friday’s post-NFP lows and in index terms looking a bit more comfortable on the 92.000 handle having carved out a fractionally higher high, at 92.277 vs 92.262 ahead of the BLS report. However, the bounce appears consolidative rather than concerted at this stage given the lack of depth in the market due to Labor Day, though this could exacerbate price action and moves especially if psychological or key technical levels are breached.
The Dollar is holding above Friday’s post-NFP lows and in index terms looking a bit more comfortable on the 92.000 handle having carved out a fractionally higher high, at 92.277 vs 92.262 ahead of the BLS report. However, the bounce appears consolidative rather than concerted at this stage given the lack of depth in the market due to Labor Day, though this could exacerbate price action and moves especially if psychological or key technical levels are breached.