FXstreet.com (Córdoba) - Greenback is rising further across the board as gold tumbles below 1,180 an ounce. EUR/USD fell below 1.4900 and accumulates a decline of more than 150 pips since NFP. USD/JPY is testing 90.00 and trades at the highest level since November 13. GBP/USD is approaching to intra-day lows as it falls below 1.6550.
A much better-than-expected jobs report is helping the Dollar rise across the board. Gold is collapsing and so far today has fallen more than $30 and trades below $1,180 an ounce.
Also currencies tied to commodities are falling sharply against Greenback. AUD/USD broke bellow 0.9200 and bell to 0.9150. The pair is losing weekly gains and trades at the same level it had at the beginning of the week.
The Wells Fargo Research Team affirms: One notable feature is that the jobs report was strong enough to prompt a rise in the U.S. dollar alongside a rise in U.S. equities, a break in the inverse correlation that has persisted over the past several quarters (…) Overall, we continue to believe the dollar is near a medium-term bottom, and prefer to be dollar buyers rather than dollar sellers.