The Most Surprising Response To The Jobs Report

This is an eyebrow raiser.

The dollar index spiked on the good jobs report.

We’re used to seeing the dollar spike on bad data (risk off) but this time, it appears, the dollar caught a bid because the good data is decreasing the odds of QE3.

Note the insta-spike at 8:30 AM.

Since then, the dollar has come off a bit, but then the whole market has as well.



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