The Australian dollar briefly surged toward 0.6950 after softer US jobs data but pared gains to close lower against the USD.
The Australian dollar climbed above 0.6950 against the USD following a weaker-than-expected US payrolls report, reflecting a shift in market sentiment. The move was short-lived, however, as the AUD gave back most of its gains by the session’s close.
Prior to the release, the AUD had struggled against a stronger USD, which dominated trading earlier in the day. The payrolls data provided a temporary boost, but broader dollar strength limited the Aussie’s advance.
Markets reacted swiftly to the data, with the AUD/USD pair spiking on the print before settling at lower levels.