Australian dollar rises

dollar1The Australian dollar is slightly higher against its US counterpart.

At 0635 AEST on Monday, the local currency was worth 75.58 US cents, from 75.48 US cents on Friday.

The US dollar was up and down after May US non-farm payroll figures rose more than expected on Friday and the jobless rate fell to 3.8 per cent, from 3.9 per cent, also beating expectations of 3.9 per cent.

But US president Donald Trump sparked controversy an hour before the release, breaking with strict protocols via a market moving tweet that he was, “looking forward to seeing the employment numbers at 8:30 this morning”, prompting heavy speculation that it would be a solid report, as it was.

The Australian dollar was also higher against the yen and the euro.

One Australian dollar buys 82.72 Japanese yen, from 82.39 yen and 64.82 euro cents, from 64.60 euro cents.


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