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Friday’s Non-Farm Payroll release was soft but still supporting the U.S. dollar rally, at least in the short-term. The NFP report showed a mixed picture with only 164K jobs added in April but it was the jobless rate that fell to 3.9 percent (the lowest level since 2000) which provided another boost to the dollar. However, the latest job report doesn’t meaningfully change the Federal Reserve tightening path.

The dollar initially strengthened against its major counterparts but finally ended Friday’s trading day more or less unchanged against the euro and British pound.

The top event risk in the days ahead will be the Bank of England’s rate decision on Thursday. This is a Super Thursday which means that the BoE announces its rate decision together with the release of the Quarterly Inflation report and remarks of BoE Governor Carney.

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