The Australian dollar was almost one US cent higher in local trading, after setting a fresh post-float high on the back of strong employment data.
At 1700 (AEST) on Thursday, the local unit was trading at 104.60 US cents, up from 103.77 US cents on Wednesday.
It posted a fresh post-float high of 104.82 US cents shortly after the Australian Bureau of Statistics (ABS) reported that the unemployment rate had dropped to 4.9 per cent in March, from an unrevised five per cent in February.
Since 0700 AEST the local unit traded between 104.20 US cents and 104.82 US cents.
Royal Bank of Scotland foreign exchange strategist Greg Gibbs said the jobs data added weight to expectations of a cash rate hike by the Reserve Bank of Australia (RBA).
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At 1700 (AEST) on Thursday, the local unit was trading at 104.60 US cents, up from 103.77 US cents on Wednesday.
It posted a fresh post-float high of 104.82 US cents shortly after the Australian Bureau of Statistics (ABS) reported that the unemployment rate had dropped to 4.9 per cent in March, from an unrevised five per cent in February.
Since 0700 AEST the local unit traded between 104.20 US cents and 104.82 US cents.
Royal Bank of Scotland foreign exchange strategist Greg Gibbs said the jobs data added weight to expectations of a cash rate hike by the Reserve Bank of Australia (RBA).
Click here to keep reading at Trading Room
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