Australian dollar recovering from last week’s falls
THE Australian dollar has recovered some of its losses on last week’s weaker-than-expected jobs figures and downbeat economic update from the central bank.
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THE Australian dollar has recovered some of its losses on last week’s weaker-than-expected jobs figures and downbeat economic update from the central bank.
At 0630 AEST on Monday, the local currency was trading at 92.79 US cents, up from 92.58 cents on Friday.
The Australian dollar slumped to two-month lows last week after the unemployment rate unexpectedly rose to 6.4 per cent and the Reserve Bank’s quarterly statement was perceived as being more downbeat.
US President Barack Obama’s announcement that US warplanes would, if necessary, launch air strikes in Iraq also put pressure on the currency.
Originally published as Australian dollar recovering from last week’s falls
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