Australian dollar strengthens
At 0635 AEDT on Monday, the local currency was worth 78.53 US cents, up from 77.95 US cents on Friday.
The number of jobs added the the US economy jumped by 313,000 in February, the Labor Department said, its biggest increase in more than one-and-a-half years.
BK Asset Management managing director of FX strategy Kathy Lien said the figures reinforced the positive momentum of the US economy, but a larger factor for the Australian dollar was the prospect of an easing of tension between North Korea and the US.
“Although the unemployment rate ticked up and average hourly earnings growth slowed, the most important takeaway is that these numbers are strong enough for the Federal Reserve to raise interest rates later this month,” she said.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.