AUD/USD Spikes on Soft US Payrolls, Reverses Gains
AUD/USD briefly surged toward 0.6950 after weak US payrolls data, but pared most gains to close lower, remaining a passenger in dollar-driven moves.
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The Australian Dollar saw a brief spike on Thursday after a softer-than-expected US payrolls report sent the greenback lower. AUD/USD jumped to a high near 0.6950 on the release, only to give back most of the gain and close well off the session peak.
Despite the intraday volatility, the Aussie remains largely a passenger in currency markets, with price action dictated by US data rather than domestic catalysts. The move underscores the Aussie's sensitivity to shifts in risk appetite and US interest rate expectations.
Source: FXStreet Forex News