Australian dollar ascends on surprise jobs leap

Australian dollar ascends on surprise jobs leap

On Thursday, the Australian dollar managed to leap further in Asia after a sudden soar in jobs added in April, while regional data disclosed that Japan posted better than expected GDP for the first quarter. Meanwhile, market participants were also cautious after ex-FBI director Robert Mueller was appointed by US Justice Department Deputy Attorney General Rod Rosenstein as special counsel to take over the investigation of Russia's probable interference in the US election.

Estimating the greenback’s actual strength versus a trade-weighted basket of six primary currencies, the US dollar index added 0.06%, hitting 97.40. 

The currency pair USD/JPY came up with 111.12, heading north 0.26%, while AUD/USD stumbled on 0.7452, climbing 0.30%.

As Australia posted, the country gained up to 37,400 jobs, compared to a predicted outcome of 5,000 jobs added in April. It sent the unemployment rate down, hitting 5.7%, compared to a steady of 5.9% observed.


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