Australian Dollar Falls To Fresh 6 1/2 Year Low After Jobs Report

By MarketWatch Pulse

The Australian dollar fell to its lowest level against the dollar in six-and-a-half years Friday after the Labor Department's August jobs report. The aussie weakened to 69.20 cents in recent trade, a session low, from 69.80 cents before the report, according to FactSet data. The report's headline number missed expectations, but upward revisions to the June and July numbers helped push the unemployment rate down to 5.1%, bringing it within the target range of Federal Reserve policy makers. Falling commodity prices and signs of flagging demand from China have also helped weaken the aussie. Australia's economy is dependent on exporting coal and iron ore.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below