After the Jackson Hole last Friday, euro reached 1.2 against the U.S. dollar. The euphoria was short lived none the less. Since then, euro has lost more than 2 big points from the top.
The U.S. economic data this week has been strong: GDP was revised up to 3%, ADP NFP presenting 237k new jobs in the private sector against the forecasted 185k.
The Non-farm Payroll numbers tomorrow may play a key part in determining whether the U.S. dollar strength shall continue.