The Australian dollar was dropping toward a weekly loss against the world's reserve currency on Friday, which would end a bullish trend for the South Pacific monetary unit against its cross-Pacific rival, according to Bloomberg.
The Aussie's losses are linked with forecasts for strong U.S. jobs data and weaker than forecast Australian data about the labor market. The unemployment level in Australia pushed higher than 6 percent, according to a Bloomberg-administered poll of economists and analysts.
"This will be one of the more anticipated US employment reports in some time, as many will undoubtedly be expecting some sort of weather payback to materialize," currency strategist Sue Trinh with RBC Capital Markets told The Australian on Friday.
The Australian dollar moderately rose 0.1 percent against the greenback. The New Zealand dollar was hovering against the U.S. dollar as compared to its Thursday close. The Kiwi was falling toward weekly losses of 1.4 percent against the U.S. dollar.
The Australian reports the U.S. Labor Department is slated to release data noting job creation climbed as high as 200,000 from February to March.
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