Australia gained no less than 37.7K jobs in March, far better than a rise of 15K predicted. The unemployment rate also beat expectations with a drop to 6.1%. It was expected to stand at 6.3%, so this is quite a positive surprise. Last but not least, February’s data received a significant upwards revision. And currencies certainly reacted.
The Australian dollar made a remarkable rebound across the board, with AUD/USD hitting a high of 0.7780 and AUD/NZD escaping once again from parity. Can AUD/USD tackle 0.80 soon?
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