The US dollar barely moved against major currencies in early afternoon trade as market participants opted for caution ahead of the US nonfarm payroll data due later today, dealers said. Analysts said investors are looking for fresh evidence that may convince the US Federal Reserve to halt its credit tightening cycle after the release of the minutes from the Fed's Dec 13 meeting which indicated that US rates may have already peaked. The median forecast in a poll by Market News International see an increase of 210,000 jobs last month and the unemployment rate steady at 5 pct. At 1.30 pm (0430 GMT), the dollar stood at 116.04 yen, the same level about three hours earlier in Sydney and compared to 115.83 yen in late New York trading overnight. One euro was buying 1.2088 usd, compared to 1.2102 usd in Sydney and 1.2104 in New York. Dollar-bulls said US economic data released overnight including the weekly jobless claims data and a survey on activity in the US services sector by the Institute for Supply Management support expectations for upbeat job figures. However, Sumitomo Mitsui Banking Corp currency strategist Daisuke Uno said he expects gains in US nonfarm payrolls to fall to 110,000-120,000 in December from November's 215,000. "A softer-than-expected job figure, or even a just as expected outcome, could provide an opportunity to sell off the greenback," he said. Uno said a better-than-expected payroll data may only boost the dollar in the short-term since upbeat job figures will only strengthen the case for the Fed to stop the series of rate hikes. He thinks the dollar could fall to 112.50 yen by the end of March.