Fed’s Bullard says unemployment in ‘low 7s’ could end QE

• Three month average of 200K jobs is ‘impressive’
• US jobless rate should continue to fall in 2013
• Fed could end or slow QE if economy keeps improving
• QE might ‘taper’ to $75B a month

The combination of the Bullard headlines and the strong ISM have boosted the US dollar and whipsawed gold.