Currency trading was just as messy on Wednesday as the first US Presidential debate. Euro, which rallied against the US dollar in Asia, came under selling pressure in Europe, snapped higher shortly after the NY equity market open only to see its gains fizzle by the end of the day. Similar price action was seen in USDJPY which rallied in the early hours but fell sharply after the NY open. It is not unusual to see wild swings this time of the year as month and quarter end flows played a large role in currency volatility. EUR/USD and USD/JPY moves aside, today was not a good day for the greenback. The dollar sold off against most of the major currencies despite stronger US data.
Non-farm payrolls are scheduled for release on Friday and according to ADP, US companies added 749K jobs in the month of September. Second quarter GDP