EUR/USD gives up gains after facing selling pressure near the key resistance of 1.0900 in North American trading hours on Friday. The major currency pair drops as the US Dollar (USD) bounces back strongly in the aftermath of the United States (US) Nonfarm Payrolls (NFP) data for October. Initial reaction from the US Dollar was negative, however, it rebounded strongly, with the US Dollar Index (DXY) returning back above 104.00.
The report showed that the economy added 12K fresh payrolls, significantly lower than estimates of 113K and the former release of 223K, downwardly revised from 254K in September. The Unemployment Rate remained steady at 4.1%, as expected.(Cay)
Source: Fxstreet
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