The dollar gapped lower in the initial wake of the June U.S. payrolls release, which undershot expectations with a 223k headline. Weekly U.S. initial claims data also disappointed in rising by 281k. EUR-USD spiked to a high of 1.1121 before settling back under 1.1100. Market participants were in a noncommittal mood ahead of the long U.S. weekend and particularly Sunday's referendum in Greece. USD-JPY dove to a low of 122.95, down from the 123.67 bid rate seen prior to the data releases, subsequently settling in the low 123s. The dollar retreated against most other currencies too.
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