The Friday US employment report was stronger than expected with a 274,000 increase in payrolls for April while the unemployment rate held at 5.2%. The workweek rose and there were upward revisions to the previous months’ data. There was also a 5 cents increase in earnings. The report will ease immediate fears over an US economic slowdown and the wages increase will ensure that the Fed continues to tighten policy. This should ease the immediate threat of sustained dollar weakness, but resistance is still likely to be tough around 1.2830/50 against the Euro. Analysis supplied by ... (full story)