Monexnews-Australia Dollar strengthens versus the rivals traded-his main rivals after a report showed job growth greater than expectations, thereby reducing the pressure on the Reserve Bank of Australia to loosen policy. The number of people employed surged as much as Australia 71.500 in February from the previous month, which was far beyond the expectations of growth of 9,000 jobs from economists. While the unemployment rate stabilized at 5.4%.
"It is a great increase in the number of labor is very powerful, and a bit surprising considering the magnitude of the challenges to be faced by Australia's job market," said Richard Grace, Chief forex analyst and Chief Economist at the Commonwealth Bank of Australia in Sidney. "These Data also illustrate the strength in the economy, which forces people to throw out a short position Aussie earlier." (vid)
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