Australian dollar strengthens

australian-dollarThe Australian dollar has risen Friday, buying 68.88 US cents, from 69.13 US cents on Thursday.

Australia’s unemployment rate rose in April to the highest in eight months while full-time jobs fell, ABS data showed on Thursday, cementing views the central bank may be forced to lower rates soon to stimulate the economy.

Yesterday, the Australian dollar skidded 0.4 per cent to 68.91 US cents, the weakest since early January when a currency “flash crash” briefly sent the Aussie to 67.43 US cents.

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