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Dollar lower as greenback rallies

 

grid, data, money, dollarThe Australian dollar is lower as the greenback regains ground following its post jobs report slump.

At 0700 AEDT on Tuesday, the local currency was trading at 86.16 US cents, down from 86.74 cents on Monday.

The US dollar fell against all major currencies after non-farm payrolls disappointed analyst expectations on Friday night.

The US economy added 214,000 jobs in October, compared to forecasts of 235,000.

“US interest rates and the US dollar partly retraced Friday’s slump,” Westpac senior market strategist in Wellington, Imre Speizer, said.

“There was little news to influence markets.”

Investors on Tuesday will be awaiting the release of property price figures from the Australian Bureau of Statistics as well as business confidence data from National Australia Bank.

AAP

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