Markets

Australian dollar drops after unexpected employment drop

Published February 18, 2016 Updated February 18, 2016 09:42pm

SYDNEY: The Australian dollar dipped on Thursday after data showed employment unexpectedly fell in January, bucking expectations for a solid gain.

The Aussie fell to $0.7144, from $0.7165 before the data. It touched a one-week peak of $0.7187 on Wednesday.

Debt futures, however, were unchanged, still giving around a 50-50 chance of an interest rate cut by mid-year.

Copyright Reuters, 2016