US Dollar Outlook – Direction of Travel May Be Lower as Jobs Data Overstates Strength

US DOLLAR FORECAST: The U.S. economy added 236,000 jobs in March, slightly below consensus estimates. Meanwhile, average hourly earnings cooled more than expected, easing to 4.2% y-o-y. The labor market report, however, may not entirely capture the fallout from the collapse of SVB and SBNY Despite the market reaction on Friday, the path of least …

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