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All of a sudden and before the release of the ISM Non-Manufacturing PMI, the US dollar tumbled lower, with significant moves in many currencies.

EUR/USD jumped 50 pips to 1.1230, GBP/USD finally recovered above 1.53, USD/JPY slips from the highs.

Update:  after the initial rush,  the dollar is recovering and EUR/USD is  back down to 1.12. In any case, for  euro/dollar, the double top of 1.1190 was broken.

Update 2: the final services PMI from Markit came out at 56.2 points, a small downgrade from 56.4 initially reported.

Update 3: the move extends south with a miss on ISM Non-Manufacturing PMI.

The moves are less  pronounced against commodity currencies with the Canadian dollar  seeming to stay behind, and so are the Aussie and the kiwi to a lesser extent.

Earlier, the ECB tried not to rock the boat by leaving policy and expectations unchanged. ADP Non-Farm Payrolls came out as expected. Is optimism about Greece pushing the dollar down?

Here is how it looks on the EUR/USD chart:

EURUSD higher June 3 2015 technical chart for currency trading forex

In our latest podcast, we explain the recent USD  rally, what’s ahead and lots more

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