The Aussie outperformed on a solid employment report out of Australia, and while the credibility of the data has been called into question by at least some economists, few doubt that the validity of the underlying trend. AUD-USD is up 1.2% having rising above 0.7150. The employment report showed a rise of 58.6k, nearly triple the median forecast, while the unemployment rate fell to 5.9% from 6.2%. The details of the report were encouraging, including labour participation, aggregate hours worked and back revisions.
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