The dollar took a brutal beating in N.Y. trade on Friday, with steep losses coming on the back of the weak May U.S. employment report. EUR-USD surged from 1.1155 to near three week highs of 1.1348, as USD-JPY slid to a one-month low of 106.61 after opening the session near 108.90. Cable topped 1.4580, up from 1.4430, as USD-CAD printed seven-session lows of 1.2916, down from 1.3086 highs. As a result of the jobs data, markets completely took a June Fed rate hike off the table, leaving a July hike as anything but certain at this juncture.
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