AUD/USD Drops to 0.9400 after Jobless Data

Australia’s dollar retreated from the highest in a week after a report today showed the nation’s jobless rate climbed even as employers boosted hiring.

A gauge of the dollar fell to a one-week low amid bets U.S. interest rates will remain near zero this year after minutes of the Federal Reserve’s most recent meeting failed to offer clues on the timing of increases. A measure of volatility in the greenback against the yen was near a record low before Fed Vice Chairman Stanley Fischer and Kansas City Fed President Esther George speak. The Aussie extended declines after official data indicated growth in Chinese imports and exports was less than economists estimated.

The jobs data was “overall a mixed bag, and that’s something we’re seeing with the Aussie as well,” said Divya Devesh, a foreign-exchange analyst at Standard Chartered Plc in Singapore. “The initial reaction was higher, but since then it hasn’t really moved that much.”

Bloomberg

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