Given the weak U.S. jobs numbers, the USD is now waiting on guidance from the Fed on whether further policy action is likely, with a scheduled testimony by Chairman Ben Bernanke the key event this week, says Westpac strategist Sean Callow. "While one month's data can be brushed off - and some details were positive - it was not just the poor 69,000 in payrolls in May that was worrying; there were also downward revisions to April and March totalling 111,000." The EUR/USD is at 1.2422.
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