Australian Dollar Falls On Employment Figures,Yen Climbs
The yen climbed as traders cut their long positions in other higher-yielding currencies after the data showed Chinese consumer inflation rose more than expected in the year to February, helping the Japanese currency to cut some of the losses it suffered the previous day.
The Australian dollar was weaker at noon after mixed employment figures suggested the Reserve Bank of Australia (RBA) might hold interest rates steady in April. Australian employment barely rose in February as hiring took a breather after a very strong run, though the jobless rate remained low at 5.3 percent and full-time employment showed healthy growth.
At 1200 AEDT, the Australian dollar was $US0.9139/44, down from Wednesday’s close of $US0.9151/53.Since 0700 AEDT, the local unit has traded between $US0.9158 and $US0.9121.
The yen climbed to 123.07 per euro as of 12:34 p.m. in Tokyo from 123.62 in New York yesterday, when it fell to 124.00, the lowest level since Feb. 23. Japan’s currency advanced to 90.25 per dollar from 90.52. The greenback traded at $1.3637 per euro from $1.3657, and was at $1.4956 per pound from $1.4978.
. New Zealand’s dollar fell 0.5 percent to 69.86 U.S. cents. after the central bank said there was no urgency to lift rates off their current record lows, dashing expectations of an early start to rate rises or an aggressive tightening cycle. The Reserve Bank of New Zealand (RBNZ) kept interest rates steady at a record low and reaffirmed plans to hold them there until around the middle of the year.
The kiwi fell 0.5 percent to $0.6984 NZD=D4.