Institution: U.S. employment data disappoints dollar bulls.

Ebury's Matthew Ryan said in a report that the US non-farm employment report has left the dollar bulls "clearly disappointed." The market strategist said: "All in all, this is a rather weak report, supporting our expectation that the Fed will not raise interest rates this year." Ryan added that Fed Chair Kevin Wash has made it clear that the Fed's focus is on inflation, so Thursday's report may not carry as much weight as in the past. He said that the US labor market remains strong but is sufficiently loose to prevent workers from demanding significant wage increases, which should help alleviate inflationary pressures. Energy prices have also fallen, reducing the risk of a second round of inflationary effects.