The Australian dollar fell from week highs against the world's reserve currency on Thursday after the nation's full-time job market endured its sharpest losses in more than a year last month, Bloomberg reports.
The Aussie lost value against each of its 16 major rival currencies. Yields on government debt fell after delivering gains during the past five days. The New Zealand dollar fell for the first time in seven days, monitoring the slope of Asian stocks. Reserve Bank of Australia Governor Glenn Stevens said he is closely watching the country's jobless rate.
In October, Australian employers cut almost 28,000 full-time jobs, which amounts to the biggest drop since June 2012. The Australian statistics office in Sydney noted the jobless rate remains at 5.7 percent.
The Australian dollar lost about 0.5 percent against the greenback after touching its highest value against its cross-Pacific rival since the end of October.
The Aussie's losses during the Thursday trade session come one day after the monetary unit achieved its top level against the Japanese yen in about 14 days, according to Reuters.
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