AUD/USD up at 0.9425 Before Jobs Data

The Australian dollar pushed further above 94 U.S. cents, defying the country’s central bank assessment that it was ‘overvalued by most measures’. It last traded at $0.9411, not far from the overnight high of $0.9425.

The Aussie has retraced almost all of last Thursday’s fall from $0.9443 to $0.9327 made after Reserve Bank of Australia Governor Glenn Stevens warned that investors were under-estimating the risk of a sharp correction in the currency.

Whether the Aussie will retest its 2014 peak of $0.9505 depends on the local employment report due at 0130 GMT and Chinese trade figures at around 0200 GMT.


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