Forex - Aussie gains in Asia despite weaker jobs data, dollar ebbs

© Reuters. Aussie gains in Asia

Investing.com – The Aussie managed to edge up in Asia on Thursday along with the yen as dollar gains took a breather from recent sharp gains.

traded at 0.7482, up 0.04%, while changed hands at 108.70, down 0.35%.

In Australia, figures showed a gain of 9,800 jobs, compared to a expected 20,000 increase, as related figures showed the at 5.6% as seen under a of 64.4%.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased 0.16% to 100.22.

Overnight, the dollar hovered near a 14-year high against the other majors currencies on Wednesday, as overall optimism over the U.S. economy and hopes for an upcoming U.S. rate hike continued to support the greenback.

The dollar weakened mildly after data showed that the U.S. producer price index rose 0.8% in October, disappointing expectations for an increase of 1.2%. The core PPI, which excludes food and energy, fell 0.2% last month, compared to expectations for a 0.2% gain.

A separate report showed that U.S. industrial production was flat in October, confounding expectations for a 0.2% increase.

But the greenback remained broadly supported by growing expectations that the Federal Reserve will raise interest rates at its December policy meeting.

The U.S. dollar was also underpinned by hopes that increased fiscal spending and tax cuts under Donald Trump’s administration will bolster economic growth and inflation.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Forex - Aussie gains in Asia despite weaker jobs data, dollar ebbs