Sterling declines below 1.42 against dollar

Sterling tumbled in American trade against the dollar for the first time in four sessions, still heading for the seventh weekly profit in row, the longest such streak since 2003, following earlier data from Britain and the US, the world's largest economy. 

As of 05:40 GMT, GBP/USD fell 0.74% to 1.4159 from the opening of 1.4265, with an intraday low at 1.4102, and a high at 1.4278. 

Earlier UK data showed construction PMI slowed down sharply to 50.2 from 52.2 in December, missing expectations of 52.0. 

Otherwise, earlier US data showed the unemployment rate settled at 4.1% in January in line with expectations, the lowest since December 2000, while  average hourly earnings slowed down to 0.3% in January from 0.4% in December, revised from 0.3%, and beating expectations of 0.2%. 

The US economy added 200 thousand new jobs in January, up from 160K in December, revised from 148K, and beating expectations of 181K, while factory orders rose 1.7%, same as before and beating expectations of 1.5%. 

The University of Michigan released its Consumer Sentiment survey for January, showing a dip to 95.7 from 95.9 in December, beating expectations of 95.0. 

The economic conditions gauge in the same survey fell to 110.5 from 113.8, while economic outlook rose to 86.3 from 84.3.