AUD crosses dipped upon the release of a.....>

AUSSIE: AUD crosses dipped upon the release of a bleak Australian labour market

report. An above-forecast uptick in the unemployment rate was driven by a larger

than expected drop in employment coupled with a surprise decline in

participation rate, which fell below 63% for the first time since Jan 2001.

- AUD/USD sits -37 pips at $0.6847. The low of Jun 15 at $0.6777 remains the key

near-term bearish target.

- AUD/JPY trades -64 pips at Y73.02, with bears still looking for losses past

Jun 12 low of Y72.53. 

- AUD/NZD last deals -12 pips at NZ$1.0649. Bears look for a fall through Jun 15

low of NZ$1.0582, towards Apr 21 low of NZ$1.0484. As a reminder, NZD has been

limited by a below-forecast Q1 GDP released out of New Zealand earlier today.

- Worth adding that the release of the report provoked broader risk-off flows,

evident across G10 FX space.