Currency comment 4/7

The U.S. dollar pushed strongly higher Friday; foreign currencies were much weaker. The main cause of the strength in the dollar was a surprise military strike by the Trump administration against Syria. The cruise missile strike was as punishment for the poison gas attack by the Syrian government against their own population earlier in the week. Stock indices were higher and bonds were lower.

Most investors had expected the big news on tap Friday would be the March employment report from the government. However, the report came in weaker than expected (actual job growth was 98,000 versus the expectation of 180,000 new jobs). The job report turned out to be a non-event in regards to market action today.