Aussie dollar on the rise again

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The Australian dollar has climbed Friday, purchasing 67.90 US cents from 67.81 US cents on Thursday.

The Australian dollar was off 0.18 per cent at 68.51 US cents on Wednesday, slightly higher than a low of 68.30 US cents touched in the last session.

Investors are focused on Australia’s August employment data due on Thursday, which is very likely to show that the jobless rate rose to 5.3 per cent from 5.2 per cent in July, much higher than the central bank’s target of 4.5 per cent.

A higher number would reinforce the case for a rate cut as soon as October.

The RBA has shown willingness to proceed if desired, signals which have put downward pressure on the dollar.

Investor attention is also on a rate decision by the US Federal Reserve, which is all but certain to facilitate policy to 1.75 per cent to 2.0 per cent to help offset some of the effects from the nation’s ongoing trade war with China.

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