Bank of America Says Dollar Retains Strength Against Euro

Paresh Upadhyaya, head of Americas G-10 currency strategy at Bank of America Corp. in New York, comments on the dollar after a “clearly disappointing” U.S. payrolls report.

On dollar:

“Overall, the tone for the dollar should be stronger as most of the data has been coming in on the stronger side and that funding problems still weigh on Europe.”

On payrolls data:

“They were clearly disappointing. The market had high hopes of a strong number due to the rising employment component in the regional manufacturing surveys.

“It is mixed data and therefore the dollar’s reaction is likely to be choppy.”

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