Aussie Dollar Dips Below Key Technical Level Following August Jobs Report
Deep News
Sep 24
Fresh figures revealed that Australia added more jobs than expected in August, yet the unemployment rate continued its upward climb. In the wake of this data, the Australian dollar slipped below its closely-watched 200-day moving average for the first time since November.
The currency dropped as much as 0.3% against the US dollar to 0.7018, marking its weakest intraday level since August 4th, and broke through the 200-day moving average threshold of 0.7022. Concurrently, yields on 3-year government bonds rose by 9 basis points to 5.03%, after initially trading at 5.09% earlier in the session.
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