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Hansen: So far it's been a disappointing week for USD bulls

So far this Wednesday the Euro has drifted lower. Saxo's Ole Hansen says it's difficult to know whether it's all down to Greece or whether it's because market attention is turning to Thursday's US nonfarm payroll figures. Eurodollar, meanwhile, is still stuck in a range with all to play for ahead of the US employment report.

Hansen expects strong numbers - around 225,000 extra jobs added in June. He says there would have to be a major deviation from that to trigger a big move in the market. Attention will swiftly turn to Sunday's Greek referendum, he notes.

Ole also says it's been a disappointing week for dollar bulls. One would expect USD to be moving much higher, given the problems in Greece. But he says the Euro is fighting back. For the dollar to strengthen, he says the focus needs to return to a FED rate hike.

03:05 minutes
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