The Australian dollar strengthened Monday following last week’s weaker than projected US nonfarm payrolls data.
According to Labor Department, 215,000 jobs were added to the American economy in July, below the 229,000 jobs expected by economists. Unemployment rate steadied at 5.3%.
The Aussie ended at 67.63 euro cents from Friday’s 67.54 euro cents, and 74.13 US cents from 73.78 US cents.
While US jobs data remains sturdy enough for the Federal Reserve to increase interest rates, “many in the market were hoping for a stronger result,” said Kathy Lien, Managing Director at BK Asset Management.
The material has been provided by InstaForex Company – www.instaforex.com