Toyota Motors said it intends to cease producing cars in Australia. The Reserve Bank of Australia enhanced the forecast for economic growth and inflation, which reduces the likelihood that the RBA will slash borrowing costs.
"If the jobs number is strong then maybe the market sells off a bit further in rates and the currency gets some support," interest-rate strategist Sally Auld with JPMorgan Chase & Co told Bloomberg on Monday. "If we get a divergence between what commodity prices are doing and what the Aussie is doing, then that will start to worry the RBA again."
The Aussie fell roughly 0.3 percent against the greenback on Monday after achieving weekly gains of 2.3 percent against the dollar last week. That was the top weekly gain since period ended September 6.
The Aussie's bounce late last week was linked with the U.S. jobless rate dipping from 6.7 percent to 6.6 percent, according to The Sydney Morning Herald.
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