Australia’s dollar remained higher before a government report today forecast to show employers in the nation added jobs last month.
The Aussie strengthened versus all of its 16 major counterparts as traders increased bets the Reserve Bank will refrain from cutting borrowing costs for the rest of 2013. New Zealand’s currency snapped a gain from yesterday after data showed manufacturing expanded at a slower pace in September.
“The Aussie has shown great resilience over the last week or two,” said Derek Mumford, a director at Rochford Capital, a foreign-exchange risk-management company in Sydney. “If the jobs gain is in double figures, anything above 10,000, will be positive for the Aussie dollar.”
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