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FOREX-Dollar drops as US payrolls data revives Fed action talk
06/04/2012 06:56:12 PM GMT 

* Euro bounces from lows, Spain debt worries persist

* Options market reflect bias to euro weakness

By Julie Haviv

NEW YORK, April 6 (Reuters) - The U.S. dollar dropped broadly on Friday in thin holiday trade after disappointing U.S. jobs market data kept alive the prospect of more Federal Reserve monetary policy support.

The dollar fell against the euro for the first time in five days after data showed U.S. payrolls rose far less than expected in March, offsetting sentiment that held throughout the week in which Fed minutes from its March meeting had investors downplaying more Fed action.

"It is a disappointment," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington, D.C. "I think it highlights the fact that the Fed's door is still open to more asset purchases this year."

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Source: Reuters
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