US Dollar Volatile Ahead of Key ECB, BoE and NFPs

Volatile dollar price action today lacked conviction as commodities and equities saw broad declines across the board. The losses come ahead of key economic data with the ECB and the BoE on tap for rate decisions tomorrow, and the US NFP figures on Friday.

Dollar Surges in a Volatile Session

Volatility spiked and the dollar surged following the ECB rate meeting and another disappointing U.S. labor release. EUR/USD was down nearly 2% on the day having plummeted to current levels of around 1.4530 after trading as high as nearly 1.4900 earlier in the session. The ECB left rates on hold