The dollar was buffeted by US data

The dollar was buffeted by US data and trade comments on Friday but anded only slightly lower as the week’s dust settled. The dollar index fell 0.15% to 97.20, which belied the intra-day volatility. In other words, it was a typical Non-Farm Payrolls Friday; lots of noise and more than a few tears; but very little change once the dust has settled. The US/CNY daily mid-point has been set at 7.0382, almost unchanged from Friday’s, highlighting the low net change in the dollar basket on Friday. The dollar is virtually unchanged against the majors this morning with FX volumes muted by the Japan holiday today. Despite this, regional currencies should trade positively in today’s session, buoyed by the positive noises coming from the US-China trade talks, which is by far the most significant macro-economic event risk for the region in 2019.