NZDUSD Showing Little Life

Poor liquidity in NZDUSD during jobs report numbers out of the US. JPY crosses followed USDJPY southward from 102.40 to 101.60 only to have USDJPY reverse relentlessly back to where it was. The US reported -80,000 jobs and unemployment up 5.1 for the month of March, and revisions to the February numbers from -63K to -73K. Though this was bad news for the US market, it apparently has been priced in and will not have as much of an impact on riskier assets (JPY crosses) as one might expect. Most JPY crosses are recovering to their breakdown levels. Stay tuned.