[MARKET ANALYSIS] Dollar remains subdued after softening on NFP miss

DXY: -0.1%

• Remains subdued after retreating on the softer-than-expected NFP report, which eased some rate hike concerns and resulted in a pushback of the timing of the first fully priced-in Fed rate hike to December from October. Nonetheless, the downside is contained overnight with US markets shut on Friday ahead of Independence Day, and as such, trading conditions are set to be thinner.

EUR/USD: +0.1%

• Mildly benefited from the dollar weakness and with very little fresh catalysts for the single currency, while ECB Lagarde said she was confident the ECB had made the right decision by raising interest rates in June, and stated that second-round inflation effects had not materialised.

GBP/USD: +0.1%

• Holds on to recent spoils and is on track for a seventh consecutive daily gain, while there were some remarks from the likely next UK PM, Andy Burnham, who said he will stick to the Labour manifesto on tax and has not made up his mind on who his chancellor will be, but also commented that there is 'room for movement on tax' in Labour's manifesto.

USD/JPY: +0.1%

• Lingers near the prior day's trough after the Japanese currency outperformed amid potential JPY intervention on Thursday, while Japanese officials continued with their regular jawboning overnight.

Antipodeans: AUD/USD +0.3% / NZD/USD +0.2%

• Mildly strengthened amid the positive risk environment and upside in commodity prices.