Australia dollar drops on report showing jobless rate up

Source: 
scmp.com

Australia's dollar declined for the first time in three days after a government report showed employers unexpectedly cut jobs last month.

It fell against all 16 of its most-traded peers before a report on consumer prices next Wednesday that may prompt investors to increase bets on an interest-rate cut from the Reserve Bank of Australia (RBA) next month. New Zealand's dollar slid from the highest level in 11 weeks after data showed consumer prices unexpectedly dropped last quarter.

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