Euro rises above 1.10 as US dollar broadly weakens, USD/JPY falls below 142.00

<p>The US dollar is broadly slumping as Treasury yields fall and dollar bulls take profit. </p><p>The soft non-farm payrolls headline is winning the day and there's a UBS note circulating (aided by Nick Timiraos) that argues that next month's average hourly earnings number will be low.</p><p>Fed pricing hasn't changed with about 9 bps of additional hiking priced in. The data focus moves to next week's CPI where the consensus is +3.3% y/y, up from 3.0% but that's coupled with relatively-benign readings on headline and core at +0.2% m/m.</p><p>USD/JPY is at the lows of the week and flirting with 142.00.</p><p>Technically, there isn't much below in the way of support.</p><p>EUR/USD has also busted through 1.1000 and continued to 1.1020 which is a shade above the Aug 1 high.</p>

This article was written by Adam Button at www.forexlive.com.