The November U.S. jobs report beat expectations, leaving December Fed rate hike expectations at full bore. The dollar initially reacted positively to the data, though gains were fleeting in morning trade, as fallout from the ECB's underwhelming announcement on Thursday continued. EUR-USD fell from 1.0950 to 1.0863 after the employment report, though soon rallied back to 1.0950. Speculation was that euro shorts continue to cover positions on EUR-USD dips.
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