Australian Dollar Falls Back Amid Profit-Taking and Labor Market Anticipation

The Australian dollar fell against major currencies on Thursday, pulling back from its highest level in seven weeks against the US dollar. The move came as investors locked in recent gains and ahead of key US labor market data.

Markets expect the Reserve Bank of Australia to leave interest rates unchanged at their meeting next week, despite easing inflationary pressures and lower oil prices.

The US dollar index rose 0.1% on Thursday, rebounding against a basket of major currencies after two consecutive sessions of losses.