The Australian dollar has hit a fresh five-month high following a weaker-than-expected employment report from the United States.
At 0630 AEDT, the local unit was trading at 97.08 US cents, up from 96.55 cents on Tuesday.
In overnight trade, the currency peaked at 97.32 US cents, its highest level since June 4.
The US nonfarm payrolls report, out overnight, showed that the US economy added just 148,000 jobs in September, well below the gain of 180,000 the market was expecting.
We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.
Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.
Sign up for free