The Australian dollar rose sharply after today’s release of domestic employment data. While the Aussie has lost gains versus its US counterpart by now, the Australian currency maintained the rally against other most-traded rivals.
Australian employment grew by 42,000 in May on a seasonally adjusted basis, beating the forecast growth of 9,700 by a huge margin. What is more, the previous month’s massive increase of 37,400 got a revision to even a bigger number — 46,100. And on top of that, the unemployment rate fell from 5.7% to 5.5% unexpectedly.
AUD/USD opened at 0.7585, rallied to the high of 0.7631 intraday, but retreated to 0.7579 by 12:19 GMT today. AUD/JPY gained from 83.11 to 83.49, bouncing from the daily low of 82.92.
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