Strong Labor Data Fuels Aussie Dollar Rally

The Australian dollar strengthened against other major currencies in the Asian session on Thursday, as strong labor data raised anticipation for an interest rate hike by the Reserve Bank of Australia (RBA). The employment numbers showed that in June, Australia's unemployment rate remained stable at 4.4%, which was in line with market predictions.

However, what exceeded expectations was the actual increase in employment, which rose by 76.3K, surpassing the predicted 15K and building on the revised 44K rise for May.

This positive news has likely contributed to the strengthening of the Australian dollar against other major currencies.