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$A maintains gains on US jobs data

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Published on: Monday, April 07, 2014

by AAP

The Australian dollar remains higher on the back of disappointing US employment data.

At 1200 AEST on Monday, the local currency was trading at 92.89 US cents, up from 92.36 cents on Friday.

The US added 192,000 jobs in March as private employers boosted hiring but investors had hoped for 200,000 jobs.

"Although the data released from the US on Friday was solid, it lacked sufficient strength to make any argument to expedite the tightening of monetary policy any more compelling," CMC Markets sales trader Niall King said.

"As a result, the Aussie dollar is back knocking at the door of 93 US cents."

Mr King said investors would turn their attention to the NAB monthly business survey on Tuesday and local jobs data on Thursday.

Meanwhile, Australian bond futures prices were higher.

At 1200 AEST on Monday, the June 2014 10-year bond futures contract was trading at 95.905 (implying a yield of 4.095 per cent), up from 95.830 (4.170 per cent) on Friday.

The June 2014 three-year bond futures contract was at 96.960 (3.040 per cent), up from 96.900 (3.100 per cent).


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