Australian dollar recovers from low

The Australian dollar ended Thursday up around half a US cent from session lows after news that the nation's jobless rate hit a 23-year low in May.
The currency briefly fell to $0.6864 after the government said 41,100 jobs were lost in May.
However, the currency quickly rebounded as investors noted large job gains in March and April meant there were still 80,000 jobs created the past three months.
A late burst of interest took the Aussie to $0.6917/22 compared with $0.6971/76 late on Wednesday.
The currency, which climbed to $0.7078 earlier this week, was pushed below 69 US cents overnight as the US dollar surged broadly.
"The greenback is riding high on fears the Federal Reserve could be more aggressive in hiking rates in coming months," said Craig James, economist at Commonwealth Securities. "In the current environment, downside risks for the Aussie abound."
The Aussie has retreated from mid-February's seven-year high of 80.05 on expectations higher US rates will erode the Aussie's 425 basis-point rate premium - the main driver behind the currency's 34 percent rise in 2003.