FX Summary- USD
The dollar was reasonably well contained through the Friday N.Y. session, as the flurry of data releases were largely in line with market expectations. The July non-farm payroll print came in a tad better than forecasts, though any dollar benefit was largely offset by a four-year high print in the unemployment rate. The July manufacturing ISM outcome was perhaps a touch better than expectations, though ultimately had little impact on the FX market. For the most part, traders saw Friday’s data as doing nothing to alter the big picture on the U.S. economic front, and as a result, most of the activity seen came from short term speculative flows.