The Australian dollar fell to its lowest point for almost four years on Thursday after figures showed that unemployment remained unchanged in December.
The currency fell from 88.94 US cents to 88.27 US cents within 10 minutes of the labour force data at 11.30am – its lowest level since July 2010 – and reached as low as 88.01 US cents at lunchtime.
Unemployment in December was unchanged at 5.8%, the Australian Bureau of Statistics’ seasonally adjusted figures showed on Thursday, with the total number of people in work falling 22,600 to 11.630 million in the month.
But full-time employment fell 31,600 to 8.068 million in December and part-time employment was up 9,000 to 3.562 million.
Despite the soft labour force market, economists do not expect further interest rate cuts.
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