Aussie Dollar Touches One-Month High on Jobs Growth Prospects
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Australia’s dollar touched a one-month high on prospects a report this week will show jobs grew for a second month, enhancing local assets’ allure relative to the U.S., where labor data last week fell short of estimates.
The Aussie gained versus 14 of 16 major peers after a report showed home loans rose in November by more than economists forecast. The nation’s biggest banks are saying the currency will probably rally after its biggest annual loss versus New Zealand’s kiwi in 26 years as investors overstate the divergence in the two economies. Australia’s bonds advanced, sending the benchmark 10-year yield to the lowest since Nov. 27.