Forex Flash: NFP has to be very strong to support the USD - UBS

FXstreet.com (Córdoba) - On Thursday the US ADP employment report surprised with an increase of 201,000 new employed vs. expectations of 140,000. "The dollar gained broadly in expectation that the critical release of non-farm payrolls on Friday will also show a strong reading", says the UBS analyst team.

According to UBS, the strongest reaction to the data release was seen in USDJPY as EURUSD price action at the time of release was strongly impacted by ECB announcement. "NFP has to be very strong to support the USD after today's data and recent statements on quantitative easing", they add.

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