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AUD/JPY Supported on Australia’s Unemployment Drop
The AUD/JPY pair was supported at 85.50 after reports showed that Australia's unemployment rate has fallen to a four-and-a-half-year low at 5.4%. However, only a disappointing 3,700 jobs were created last month. The last time Australia's unemployment was this low was February 2013. Market participants were expecting the unemployment to remain unchanged at 5.5%. On the other hand, the typical forecast for job creation was 17,500. The Good: Aside from the fall in the seasonally adjusted unemployment rate, was the addition of 24,300 full-time jobs, while 20,700 part-time jobs were lost. Reflecting the rise in full-time ... (full story)