The Australian Dollar US Dollar exchange rate is extending its downwards trend, for a third session. The pair trades -0.5% at US$0.7338 at 13:30 UTC.
The Australian Dollar was under pressure across the session after the Australian trade surplus plunged by AUD3.5 billion to AUD4.6 billion. Exports slumped 4%, whilst imports surged. Signs of rising political tensions with China were evident in the numbers.
The US Dollar held gains strong data. US initial jobless claims increased by 881,000 better than the 950,000 forecast and the best reading since lockdown began. The data boosted optimism that the labour market recovery is still on track.
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