Up until this week the USD has been trading higher on taper expectations and better economic data. Now that both the NYSE and Nikkei took a beating this week on taper expectations the dollar has tumbled.
So my question to you fxperts out there is the dollar in for a loss regardless of what happens with NFP tonight? if the data comes in really good then stocks may go down further on taper fears, which could lead to more USD selling? If the data comes in bad then the economic recovery may not look as strong and lead to more USD selling and profit capture?
thoughts?