Ugly payrolls numbers:
Feb. 1 (Bloomberg) – The U.S. economy unexpectedly lost jobs in January for the first time in more than four years, adding to the case for the Federal Reserve to lower interest rates further next month to head off a recession.
The weak payrolls numbers suggest that the fed must continue to cut rates (another 50bp in March?) - leading me to expect further weakness in the USD…
Unless that weakness was already built into the price?