Had it not been for worries about how Hurricane Sandy would affect the number, Friday's monthly employment report would have been "middling," says Steven Englander of Citigroup. "The market was so prepared for a weak number because of the hurricane," Englander says. That has led to somewhat of a relief rally in equity and fixed-income markets. The move in Treasurys had pushed dollar-yen higher, as would be expected, he says. The dollar traded as high as Y82.835 moments ago, just shy of an eight-month high. It was most recently at Y82.81, up from Y81.36 just before the jobs report was released, according to EBS via CQG.
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