TThe US private sector gained only 38K jobs in May, according to ADP. This falls short of early expectations for a gain 177K jobs. The “safe haven” currencies soar against the dollar: USD/JPY drops sharply and USD/CHF digs deeper into fresh all-time lows. Other currencies move more slowly. This is a bad sign for the official Non-Farm Payrolls on Friday. This is a huge disappointment. EUR/USD is moving up as well, but is still far from the 1.4450 resistance line. GBP/USD is experiencing an even more limited move. But the low yielding, “less risky” currencies are moving sharply: USD/JPY lost 40 pips instantly, and is ... (full story)