Quotes from Lloyds Bank
- The USD made gains against EUR, GBP and other European currencies yesterday, while the commodity currencies held relatively better.
- This could be market positioning ahead of US payrolls. While the ADP employment report was marginally weaker than expected, the non-manufacturing ISM was firm.
- Furthermore, the employment component rose sharply to its highest level since October after declining for three consecutive months.
- This should be supportive for market expectations of a decent payroll report on Friday.
