The Australian dollar weakened today as the government report showed that Australian employers added fewer jobs than was predicted by analysts.
The number of employed persons in Australia grew by 7,800 in May from April, compared to forecasts of an increase by 25,600. The reading wasn’t bad anyway, compared to the April slump by 29,400. Yet the report caused speculation that the fundamentals will restrain Australia’s central bank from increasing interest rates on its next meeting.
AUD/USD dropped to 1.0584 from 1.0622 as of 9:46 GMT today after rising to 1.0662.
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