as market participants looked at weak U.S. payroll report as a sign that there may be more bad news ahead, for the economy and the dollar. The euro-dollar was trading at $0.9063 and dollar-yen at Y120.10, both currency pairs not far from their U.S. dollar lows seen earlier in the day. Traders said they are reluctant to sell the dollar further for two reasons. First, the market is already heavily positioned short dollars and analysts have been warning in recent days that any signs of a U.S. economic turn-around would put these positions in jeopardy and send traders scrambling to buy the greenback. Secondly, if indeed the scenario is so gloomy for the U.S., what does that mean for any global recovery? As one Euroland corporate strategist said, "We don't think you can save the world anymore." If the Fed Chairman Alan Greenspan and Co. aren't seen as being able to save the U.S. economy, investors may out of nervousness buy dollars for safe-haven reasons, rather than sell dollars because of concerns about any further U.S. slowdown. Interbank traders were surprised that the dollar didn't suffer more given the sharp increase in the August unemployment rate to 4.9 percent, vs expectations of 4.6. //Mktnews