Very disappointing data.
The dollar is easier but not dramatically.
The drop in the unemployment rate may be holding back dollar sellers, as that is derived from the household survey, which tends to pick up changes in small business better…It also could be a function of people dropping out of the labor force…
November payrolls were revised higher, to +71,000 from +39,000.
One thing is for sure: The data will keep the Fed on the path of buying all $600 bln in Treasuries as part of QE2.
