Aust dollar falls in early trade

Local currency slips as US counterpart rallies on strong employment data.

The Australian dollar is lower after the United States dollar rallied on the back of strong US employment data.

At 0630 AEST, the local unit was trading at 91.31 US cents, down from 91.56 cents on Wednesday.

Americans filed fewer claims for unemployment benefits last week as the pace of layoffs continued to slacken.

The data raised more speculation that the US Federal Reserve could announce a scaling back of economic stimulus at its policy meeting later this month.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles