Price action in FX post nonfarm payrolls - Westpac

Analysts at Westpac noted the nonfarm payrolls price action.

Key Quotes:

"The US dollar rallied on the jobs data but had already been rising against most currencies, recovering some of the ground lost either side of year-end. EUR/USD was comparatively resilient but still lost about 0.6% over the day, to 1.2435 early Monday in Sydney. GBP/USD slid more than 1% to 1.4110.

USD/JPY rose 1 yen to 110.40 from early Friday trade to the NY afternoon but then eased to 110.00/10 as the yen found some safe haven buyers. AUD/USD starts the week just above 0.7900, down about -1.6% from 0.8040 on Friday morning. The US payrolls report accounted for about 50 pips of the fall. NZD/USD followed a very similar trajectory, -1.5% to below 0.7290, leaving AUD/NZD down a touch at 1.0855."