The Australian dollar climbed on Thursday against all 16 of its top rivals after the national statistics office released an unusually strong jobs report from last month, according to Bloomberg.
After pushing to their top level since early December 2013, three-year bonds issued by Australia fell. Employment rates increased by 47,300 in February, according to the South Pacific nation's statistics office in Sydney. Analysts and economists polled by the news service predicted the median climb would be 15,000 jobs.
"Today's much better-than-anticipated Australian jobs report could feed expectations for a rise in the cash rate by the RBA, which in turn would boost demand for the Australian dollar," market analyst David de Ferranti with FXCM told The Wall Street Journal on Thursday. "However, the Reserve Bank likely needs to see the unemployment rate tick down before raising rates."
The Aussie pushed ahead roughly 0.7 percent against the U.S. dollar, about 0.6 percent against the Japanese yen and approximately 0.3 percent against the New Zealand dollar.
Australia's unemployment level stayed at 6 percent, according to The Wall Street Journal, noting analysts said strong job creation is unlikely to be replicated this month.
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