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Australian Dollar Climbs on Unemployment Rate

January 14, 2010 at 4:30 by Jan Baros

Australian dollarThe Australian dollar climbed after employment figures were published in the country with better-than-expected numbers, adding confidence that the economic recovery in the country is accelerating its pace, spurring demand for assets in the South Pacific region.

After unemployment in Australia declined to 5.5 percent and surprised forecasts that expected an increase, the Aussie dollar gained versus most of the main traded currencies, specially lower-yielding options like the Japanese yen, impacted by the growing risk appetite in Australia.

AUD/CAD traded at 0.9579 as of 02:27 GMT from 0.9504 hours before the employment figures were published in Australia.

If you have any questions, comments, or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

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