The Australian dollar recovered almost a cent on Friday from near two-week lows struck offshore as robust domestic data helped offset fresh doubts on the global recovery following gloomy US jobs data. While the jobs report from the US weighed down on stocks and commodities globally, data at home showed demand holding up remarkably well, feeding into talk the Reserve Bank of Australia (RBA) would keep rates unchanged at 3 percent on July 7.
The Aussie was at $0.7989, down from $0.8045 late here on Thursday, but off a near two-week low of $0.7900 struck offshore. The local dollar climbed as high as $0.8156 earlier this week. The Aussie also recouped some of its sharp losses against the yen, trading at around 76.78 yen by Friday evening. It had dived to 75.77 yen, its lowest since June 24, as leveraged positions were unwound after the dismal US jobs report.
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