The Australian dollar surged to the highest level since May versus the US currency after the government report showed that the employment in Australia increased more than forecast and the unemployment rate dropped.
The employers added 30,900 jobs in August, following the growth by 25,000 in the previous month. The forecast figure was 27,200 jobs. The 30,900 jobs in August decreased to 5.1 percent, compared to the previous reading of 5.3 percent and the predicted 5.2 percent. The report encouraged the traders to raise the bets that the policy maker of the Reserve Bank of Australia would raise the interest rates on the next meeting.
AUD/USD jumped from 0.9181 to 0.9257 today as of 8:50 GMT, the highest level since May 4th.
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