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Jobs Data Aids A$ Recovery, AUD/JPY To Fresh Highs

AUD

AUD/USD is up from lows post the May jobs data beat. From lows just under 0.6770 we rose back to 0.6790, now settling back at 0.6780, still 0.25% weaker than NY closing levels. Broader USD gains are firm, which is likely to be capping upside. A$ is outperforming on crosses, AUD/NZD is backs towards 1.1000, while AUD/JPY got to fresh highs above 95.50, before retracing modestly.

  • The data was stronger than expected, +76k jobs (+17.5k forecast), while the unemployment rate dipped down to 3.6% (3.7% forecast). The bulk of the jobs gain were also in the full time segment. More details to follow.

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