Aussie holds below $0.65 amid mixed jobs data and strong US dollar

The Australian dollar remained below $0.65 on Thursday, staying near its lowest point in three months after a mixed jobs report.

Aussie holds below $0.65 amid mixed jobs data and strong US dollar

Australia's unemployment rate held steady at 4.1% for the third month in October, matching expectations. However, the employment increase was weaker than anticipated, with only 15,900 new jobs added compared to forecasts of 25,000. The data had little effect on the Reserve Bank of Australia’s (RBA) policy outlook. RBA Governor **Michele Bullock reaffirmed that current interest rates are sufficiently restrictive and will stay unchanged until inflation is firmly under control.

Aussie pressured by stronger US dollar amid renewed "Trump Trades"

Externally, the Aussie faced additional pressure from a strengthening US dollar, driven by renewed “Trump trades,” despite expectations that the Federal Reserve will gradually ease borrowing costs.