Australia’s dollar slid versus all its major counterparts after data showed payrolls unexpectedly fell and the unemployment rate climbed to a four-year high.
The Aussie declined for the first time in a week against the greenback, retreating from the strongest level in more than two months. The New Zealand dollar climbed for a fifth day, reaching the highest in more than three weeks, after the nation’s central bank signaled it may raise its key rate from a record low earlier than previously expected.
“You can see this as a genuinely soft employment report,” said Ray Attrill, the global co-head of currency strategy at National Australia Bank Ltd. “The unemployment rate did go up, even though the participation rate fell. The fall back in the Aussie is justified.”
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