Forex news for New York trade on May 5, 2017:
– No comments on monetary policy from Yellen or Fischer
– S&P 500 up 10 points to record 2399
– US 10-year yield flat at 2.35%
Wages were the trade once again. Nonfarm payrolls were strong and the unemployment rate slipped and the dollar initially rose but only for a moment. Seconds later it reversed as the market refocused on wages.
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