Australia’s Burst of Hiring Sees Traders Pare Rate-Cut Bets
- Full-time roles drove hiring in September, rising by 51,600
- Traders pared bets on an RBA interest-rate cut in February
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Australia’s powerful stretch of hiring extended into September and the unemployment rate held steady, prompting a rise in the currency as traders scaled back bets on the Reserve Bank’s first interest-rate cut.
The currency climbed as much as 0.4% and the yield on policy-sensitive three-year government bonds jumped to the highest since July 31 after data Thursday showed employment rose 64,100, more than double estimates, and the jobless rate held at a downwardly revised 4.1%.