6 April 2001, 16:56  US March non-farm payrolls fell 86,000 with the unemployment rate edging up to 4.3 per cent.

February was revised to 140,000 from 135,000, and January revised to 289,000 from 224,000.Average hourly earnings rose 0.4 per cent, bringing the year-on-year rate to 4.3 per cent. MarcChandler, currency strategist at Mellon Bank in New York, said that the weak payroll numbersaugments the chances of an inter-meeting cut by the Fed, despite the increase in hourly earnings. He also thinks that it will prompt the ECB to lower rates by 50 bp at its next meeting. Euro/dollar was lastflirting with resistance at $0.8990, and dollar/yen was at 124.15, from around 124.50 earlier.

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