THE Australian dollar continued to fall after it was reported that claims for US unemployment insurance benefits last week fell to a five-year low.
At 6.30am AEST the local unit was trading at 89.29 US cents, down from 89.58 cents at yesterday's local close.
New data showed that the number of US workers seeking new unemployment benefits fell to a five-year low last week, a new sign of a modestly improving labour market.
Initial jobless claims, a proxy for layoffs, fell by 19,000 to a seasonally adjusted 326,000 in the week ended July 27, the US Labor Department. That was the lowest number since early 2008 and better than the 345,000 new claims forecast by a Dow Jones Newswires survey of economists.
Source:
http://www.theaustralian.com.au/business/markets/us-jobs-data-strengthens-greenback-sends-australian-dollar-lower/story-e6frg94o-1226689936207
