“The Australian dollar slid versus most of its 16 major peers before a report this week that may show an increase in unemployment, adding to signs of weakness in the domestic economy.
Australia’s currency fell against the dollar on prospects employers in the South Pacific nation last month added the fewest jobs since a decline in August. Both the so-called Aussie and itsNew Zealand counterpart, known as the kiwi, tumbled from the highest levels in more than four years versus the yen after comments by Japan’s economy minister stoked speculation the country won’t try to spur further losses in its currency.
“There is underlying weakness in the labor market,” said Andrew Salter, a currency strategist in Sydney at Australia & New Zealand Banking Group Ltd. (ANZ) “If we do a get a weaker unemployment read, the market will look to take the Aussie lower.”
The Australian dollar fell 0.2 percent to $1.0549 as of 4:45 p.m. in Sydney after rising 0.3 percent yesterday. It touched 94.66 yen, the highest since August 2008, before trading at 93.83, 0.8 percent below the close in New York. New Zealand’s currency, known as the kiwi, lost 0.3 percent to 84.05 U.S. cents. It slid 0.9 percent to 74.75 yen after earlier reaching 75.53, the strongest since September 2008..”
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