Aussie slumps on woeful jobs data

Currencies Direct January 16th 2014 - < 1 minute read

The Australian dollar tumbled to its lowest in more than three years against its US counterpart on Thursday (16 January).

Dismal jobs figures from Australia sent the currency to its weakest since June 2010, while continued strong data from the US offered support to the greenback.

AUD/USD slid 1.5 per cent to hit 0.8784 as official data showed that the jobs rate in Australia declined by 22,600 in December.

Meanwhile, the Empire State Manufacturing Index showed activity in January expanded at its fastest rate since May 2012, further supporting the case for the Federal Reserve to unwind stimulus at its policy meeting later this month.

The dollar rose for a third day against the yen, with USD/JPY climbing 0.15% to 104.75, not far off the January high of 105.32.

Sterling slipped further against the greenback, declining for a second day ahead of UK retail sales figures later on Thursday.

GBP/USD was down 0.25% as European markets opened at 1.6332, while the pound suffered similar losses against the euro with EUR/GBP up more than 0.2% at 0.8328.

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Currencies Direct

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