The U.S. dollar held firm on Thursday, having returned to levels seen before last week’s soft payrolls data as faith in the U.S. economic recovery was restored, while the Australian dollar slid to a 3-1/2-year low after a dismal local jobs report.
Upbeat U.S. numbers this week held out hope that Friday’s surprisingly soft employment data was an anomaly and did not signal the economy had lost steam at the end of last year.
U.S. data on Wednesday showed producer prices recorded their largest gain in six months in December, yet there were few signs of any sustained price pressures. The figures came a day after U.S. retail sales rose and a core spending gauge posted a big jump.
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