Dollar remains weak after post-nonfarm payrolls tumble

The currency markets were quite in Asia as most markets remained closed for the Eater holidays. Friday’s post-US nonfarm payrolls moves were consolidated. The lower-than-expected US jobs number caused the dollar to tumble against most major counterparts. Only 126,000 jobs were created in March, which was at the lowest level since January 2014. Much of the focus in the coming week will be on the FOMC minutes due on Wednesday.

EUR/USD opened higher at 1.1000 and slipped to 1.0975. EUR/JPY opened at 130.76, hitting a high of 130.90 and a low of 130.59. USD/JPY opened lower at 118.83 before rising to 119.18. On Friday, the pair plunged from 119.95 to 118.73 after the disappointing US nonfarm payrolls report.

Looking ahead to the European session today, it is expected to be quiet since many markets are closed there as well for the Easter Monday holiday. Trading volumes will be light in the absence of economic data releases.

The only relevant news over the weekend was that Greek Finance Minister Varoufakis met with IMF head Christine Lagarde. The Greek government says it remains committed to making a debt repayment to the IMF on Apr 9th as scheduled.

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