Weekly FX roundup: Employment report sends Dollar down

The Greenback tumbled on Friday on the release of the non-farm payrolls report. Investors expecting either a small increase or a breakeven in employment as a sustained sign of recovery were disappointed with the reported 85,000 contraction in the job market in December. The dollar fell sharply after the release of the report, but did not last long as bulls came to push up the currency in the next two hours. However, fundamentals won the battle with the dollar resuming its downtrend erasing the gains posted earlier in the week. The Dollar Index closed the week at 77.47 after posting a high of 78.19 earlier in the day.