Australian dollar drops after unexpected employment drop

18 Feb, 2016

SYDNEY: The Australian dollar dipped on Thursday after data showed employment unexpectedly fell in January, bucking expectations for a solid gain.

The Aussie fell to $0.7144, from $0.7165 before the data. It touched a one-week peak of $0.7187 on Wednesday.

Debt futures, however, were unchanged, still giving around a 50-50 chance of an interest rate cut by mid-year.

Copyright Reuters, 2016

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