AUD Retreats as Labor Market Data Disappoints
The Australian dollar retreated to around $0.71 following softer labor market data, which reduced expectations of another RBA rate hike.
Employment in Australia fell by 15,800 in July, defying forecasts for a 15,000 increase and marking the first monthly decline since April.
The unemployment rate rose to 4.5%, slightly above both market expectations and June's 4.4%, reaching its highest level in three months.