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Dollar Bears Are Undaunted After Getting Burned by Rally on Jobs

  • Pessimists point out that bets on Fed barely budged after data
  • Euro holds above key technical of $1.1714 breached last week
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ING's Patel Sees Three Main Parts to U.S. Dollar Weakness

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Dollar bears, singed by the currency’s biggest rally since January, say they’re still holding their ground.

Bloomberg’s dollar index surged as much as 0.8 percent Friday on a government report showing that the U.S. added 209,000 jobs in July, beating the consensus prediction of 180,000. The data highlighted the strength of the world’s biggest economy and sparked a surprising reversal for the greenback, which sat close to a 15-month low ahead of Friday’s report.