1 February 2002, 16:55  Dollar little changed after US non-farm payroll data

LONDON (AFX) - The dollar was little changed after the market's mixed reaction to the US January non-farm payroll data. Total nonfarm payroll employment fell by 89,000 in January from December to record the smallest decline since August. Meanwhile the unemployment rate fell to 5.6 pct in January from 5.8 pct in December. December total nonfarm payrolls fell a revised 130,000, slightly more than the initial estimate of a 124,000 drop. Steve Pearson, currency strategist at Halifax said the figures were mixed, leading to a very muted response. "While January's headline figures look good, December data was revised downwards. On the other hand unemployment levels fell," he said. At 1.48 pm, the euro was up slightly at 0.8633 usd while sterling was also marginally higher at 1.4153 usd.

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