The Australian dollar dropped marginally on Friday following better than projected US economic data.
US retail sales figures climbed 1.2% in May as households bolstered purchases of automobiles and other products even as they paid a bit more for gasoline.
The Aussie closed at 68.88 euro cents from Thursday’s 68.67 euro cents, and 77.56 US cents from 77.61 US cents.
The currency had been backed by upbeat local jobs data released Thursday, which showed a surprise drop in the unemployment rate to 6.0% in May,” said Kathy Lien, FX Strategy Managing Director at BK Asset Management.
Reserve Bank of Australia Governor Glenn Stevens previously said he was open to additional interest rate cuts.
The material has been provided by InstaForex Company – www.instaforex.com