The Australian dollar jumped today after employment data turned out to be much more positive than was expected by Forex market participants. The report allowed the currency to gain against the US dollar and the euro, while against the Japanese yen the Aussie managed to erase losses.
Australian employment grew by 1,100 in May from April. It was much better reading than a drop by 9,800 anticipated by traders. Moreover, the unemployment rate unexpectedly slipped from 5.6 percent to 5.5 percent.
The general market mood was less supportive for the Australian currency (often nicknamed Aussie). Investors are worried that the US Federal Reserve may pull back its stimulus measures and such worries spoil the market sentiment.
AUD/USD jumped from 0.9478 to 0.9600 as of 18:20 GMT today after falling to 0.9426 earlier. EUR/AUD declined from 1.4054 to 1.3891. AUD/JPY fell from 91.00 to 88.90 before bouncing back to the opening level.
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