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SYDNEY: The Australian dollar brushed aside early softness to edge back toward six-week highs on Tuesday as strong domestic economic data fuelled expectations interest rates would rise again in the next month or two.
Job advertisements rebounded with their biggest increase on record in February while business confidence and activity improved, seemingly auguring well for another upbeat employment report on Thursday. The median forecast had been for a 15,000 rise in employment, with the jobless rate steady at 5.3 per cent, but the market will be leaning toward something higher now.
That left the Australian dollar firm at $0.9090, up from an early $0.9072 low, but it faces offers in the $0.9135/45 zone. Support is seen around $0.9030 and $0.8980.
It edged back to 81.80 yen, from a 82.14 high, giving back some of the gains made Monday, when global sentiment was still showing the benefit of the US payrolls report. The euro stayed subdued at A$1.4972, within sight of a record low of A$1.4937 hit last week. -Reuters
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