Australia’s dollar dropped to its lowest
level in four months as a slide in Asian equities prompted
traders to dismiss data that showed a smaller loss in jobs than
economists had forecast.
The Aussie’s 4.8 percent decline since Dec. 31 is the
biggest loss among Group of 10 currencies after New Zealand’s
dollar amid concern about a slump in China and commodity prices.
Australian employers cut 1,000 jobs last month, compared with
the median forecast for a 10,000 reduction. The unemployment
rate was 5.8 percent.