"A true speculator tries the market small." - Jesse Livermore
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USD/JPY Weekly Forecast: Can inflation rescue the dollar?
The USD/JPY dozed from Monday’s open at 109.36 to Friday’s 109.17 approach to the US Nonfarm Payrolls report (NFP), then woke with a start as the US economy added just one-quarter of the expected jobs. American firms hired 266,000 people in April and the unemployment rate rose to 6.1%, according to the US Department of Labor. A far better report had been expected with a 978,000 consensus estimate for payrolls and a 5.8% unemployment rate. Initial reaction sent the USD/JPY cascading from 109.22 as low as 108.34 in the first 30 minutes following the 8:30 am EDT release. The USD/JPY rebounded to 108.89 before fading ... (full story)