Consolidation was the name of the game in early-week markets in Asia, letting the dust settle after Friday's post-U.S. jobs report volatility, which elicited an 'on-the-fact' dollar sell-off as Fed funds futures moved to fully discount a 25 bp Fed rate hike at the September FOMC. EUR-USD traded a narrow range just of Friday's 1.0978 peak. USD-JPY lifted moderately, above 124.40, after opening near 124.20, as Japanese and most Asian stock markets managed to post gains, despite Fed tightening expectations and ugly Chinese trade data.
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