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Canadian dollar

unchanged

TORONTO: The Canadian dollar closed unchanged in very light flows as the market waited for US employment date due for release early Friday.

"The Canadian dollar is in stasis," one analyst said. "Today has been a non-event."

Little change is forecast in the Canadian dollar's range-bound movements overnight, but strong employment growth will spark a sell-off in both the US and Canadian dollars following last month's unexpectedly high number, dealer said.

Economists surveyed by Reuters are expecting a rise of 60,000 compared to an increase of 705,000 last month.

Dealers will be trading on the number, which is expected to cause some market volatility. A strong number would fan inflationary fears in the United States.

Longer-term, dealers said the outlook for the Canadian dollar remains favourable with signs of continuing recovery in retail sales and construction.

The Canadian dollar closed flat at C$1.3580 (US$0.7364). On the crosses, the Canadian currency was unchanged at 1.0903 marks but edged up to 78.85 yen from 78.71 yen at Wednesday's close.-Reuter