The Australian dollar fell a full cent on Thursday, hit by a surprisingly steep decline in employment that prompted markets to lower the risk of a near-term interest rate hike. The Aussie dollar was knocked across the board, falling around one percent on the kiwi, yen, Swiss francs, sterling and even euro. It dived a cent to a low of A$1.0585 before clawing back to $1.6004. It was already been under pressure on heightened risk aversion spurred by a rout in commodity prices.
The closely watched report showed employment fell 22,100 as full-time jobs dropped 49,100, far worse than the most pessimistic forecast for a decline of 5,000 jobs. The New Zealand dollar remained on the defensive, holding around $0.7905, struggling to get past strong barrier at $0.7975 with the reversal in commodities.
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