AUD Suffers Second Straight Day of Losses Amid Mixed Australian Jobs Data

The Australian Dollar (AUD) has declined against the Japanese Yen (JPY) for the second consecutive day, trading around 110.80 during Asian hours on Thursday.

The AUD's weakness is attributed to mixed jobs data from Australia, which showed an unexpected rise in the Unemployment Rate to 4.6% in August, exceeding market expectations of 4.5%. While the Employment Change beat forecasts with a gain of 39.5K jobs, full-time employment contracted by 6.3K, while part-time roles surged by 45.8K.

The Labor Participation Rate edged up to 67.1%, but the overall data revealed underlying weakness in the Australian labor market.

In related news, US Treasury Secretary Scott Bessent confirmed that the United States and China have agreed to extend their bilateral trade truce through January 10, potentially impacting the AUD due to its close trading relationship with China.