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AUD & Local Yields Weaken On Softer Jobs Data

AUSTRALIA DATA

AUD/USD has faltered on the July jobs miss. The currency hit fresh lows of 0.6372, we sit slightly higher now, last near 0.6375. We were closer to 0.6400 prior to the data. 2yr swap rates are also lower, getting to 4.15% and holding close to these levels now. Prior to the data we were around 4.21%. The data was weaker than expected across the board, with weaker jobs growth and a higher than expected tick up in the unemployment rate. More details to follow.

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