Post NFP, pre-ISM comment on USD

Nonfarm payrolls slightly less than expected at 157k vs. 165k latest survey, but previous month was revised higher +41k to 196k. The market seemed to be looking for a relatively strong number, so this is more or less in line, in my view, the revision taken into account. BUT, the unemployment rate rose +0.1% due to a weak household survey, so this saw treasuries pushing back higher. IF they continue to rally, that supports a bit of USDJPY consolidation, though risk coming off in general is

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