The Australian dollar moved above the $0.80 mark on Thursday after recent data revealed that the country added more jobs than expected in August.
According to the Australian Bureau of Statistics, the economy added 54,200 jobs in August, higher from 27,900 in July.
The number of full-time jobs increased by 40,100, rising from a revised decline of 19,900 in July (initially 20,300). At the same time, 14,100 part-time jobs were added, in comparison with a revised growth of 49,100 the previous month (initially 48,200).
The latest figures, which are well above market expectations, are upholding a solid uptrend over the last six months.
Overall unemployment was at 5.6 percent, as more people entered the job market. The participation rate climbed 65.3 percent from 65.1 percent the month earlier.
Australia's job market has been a bright spot for most of 2017, as full-time job creation led a pickup in hiring, and also reducing the unemployment rate.
The Reserve Bank of Australia kept its benchmark interest rate on hold at 1.5% for over a year.
The Australian dollar rose 0.3 percent on the day at $0.8011 after the publication of the recent figures.
The material has been provided by InstaForex Company – www.instaforex.com