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The Australian dollar fell below $0.70, hitting a two-week low after higher unemployment and unexpected job cuts in September prompted traders to scale back bets on further rate hikes. The jobless rate came in at 4.7%, above the 4.6% forecast, while the previous month's reading was revised up from an initial 4.6%. The
Employment in Australia fell by 39,300 in September, the Australian Bureau of Statistics said. The decline eased pressure on the Reserve Bank of Australia to raise rates further in November.
CME FedWatch shows implied October 28 hike odds at 31.6%, up from 22.1% a day earlier MSCI Asia-Pacific shares outside Japan fall 1.2%, led by KOSPI's 5.6% plunge Australian dollar slips 0.2% after September employment falls by 39,300 jobs By Gregor Stuart Hunter SINGAPORE, Oct 15 (Reuters) — Markets started the day on