European FX Update European FX Update: EUR-USD managed to edge out a new low of 1.3495, which is a pip shy of the Feb-28 low. Trading conditions were quiet ahead of the U.S. payrolls release, but the move nonetheless shows the bearish bias in the market following the ECB meeting yesterday. There is also an anticipation of a strong, USD-positive U.S. jobs report. Analysts are forecasting a +200k headline and note upside risk due to an improving path for claims and rebound from weather depressed readings. Elsewhere, USD-JPY flat-lined around 103.85-90, below yesterday's 104.11 two-month peak as the yen's recent bout of pronounced weakening came to a pause. EUR-CHF managed to eke out a fresh high of 1.2239, which breached the Mar-26 peak to make this the highest level seen since mid-February. The move reflects an unwinding of the Swiss franc's safe-haven premium.