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Dollar reaches four-month high on jobs data

Updated - 9/9/2010 - news.com.au.

 

THE Australian dollar reached a four-month high at noon after gaining almost half a US cent on the release of strong jobs figures.

At 12pm today (AEST), the local unit was trading at $US0.9218/20, up from Wednesday’s close of $US0.9158/61.

Since 7am, the local currency has traded between $US0.9172 and $US0.9234.

Nomura Australia economist Stephen Roberts said the Australian dollar received a lift from employment data that showed the unemployment rate was a seasonally adjusted 5.1 per cent in August, down from 5.3 per cent the month before.

"The strength of that employment number implies that there is a greater degree of certainty that the RBA (Reserve Bank of Australia) will be back to tightening before the end of this year," Mr Roberts said.


Read more: www.news.com.au/business/breaking-news/dollar-reaches-four-month-high-on-jobs-data/story-e6frfkur-1225916417966

 

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