AUD/JPY gathers strength to near 97.50 as Australia's Unemployment Rate falls in November

The AUD/JPY cross gathers strength to around 97.40 during the Asian session on Thursday.

AUD/JPY climbs to near 97.40 in Thursday’s Asian session, adding 0.20% on the day. The Australia n dropped to 3.9% in November from 4.1% in October, stronger than expected. BoJ rate hike uncertainty drags the JPY lower. The Aussie gains traction after the release of the Australia n employment report.

Employment FAQs How do employment levels affect currencies? Labor market conditions are a key element to assess the health of an economy and thus a key driver for currency valuation. High employment, or low unemployment, has positive implications for consumer spending and thus economic growth, boosting the value of the local currency.

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