Positive Employment Data Leads to Massive Gains for AUD

The Australian dollar climbed today, rising 1 percent against its US peer, after a report showed robust growth of Australia’s employment and an unexpected drop of the unemployment rate.

Australian employment grew by 15,600 in February from the previous month, in line with expectations. The unemployment rate ticked down a little to 6.3 percent, and this was unexpected. The data made the Aussie stronger, especially against the US dollar that weakened ahead of US economic reports scheduled for release later today.

AUD/USD jumped from 0.7590 to 0.7666 as of 10:08 GMT today. AUD/JPY rallied from 92.21 to 92.87.

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