The dollar has traded moderately firmer so far today, with EUR-USD sinking to a nine-day low at 1.1380 and USD-JPY edging out a nine-day peak at 107.68. The soft headline but strong components of the U.S. jobs report continued to be digested by markets, which we think should give the Fed sufficient reason to hike rates at the June FOMC, although this view is an outlying one, with Bloomberg calculating 8% odds for a 25 bp rate hike in June. USD-CHF logged a 12-day peak, while most of the other main dollar pairings remain in ranges seen on Friday.
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