Trading in the Aussie dollar and the New Zealand dollar penetrated the recent highs after the release of favorable economic data as well as supported by the weakness of the US dollar.
Australian jobs once again surpassed market expectations in November, with the unemployment rate declining to 6.8% from previous expectations and a reading of 7.0%.
Figures published by the Australian Bureau of Statistics (ABS) on Thursday showed a significant surge in employment by 90,000 last month, following a staggering rise in October.
This reinforces market expectations that an increase in employment will drive a stronger Australian economic recovery.
This impressive reading of the data has propelled the Aussie dollar to rise higher in the Asian session and broke its recent 2-year high of 0.759000 against the USD.
Meanwhile, the kiwi dollar jumped its highest since April 2018 after the New Zealand Finance Minister told him that he did not care about the high value of the New Zealand currency as the economy looked stronger than expected. This has indirectly driven the expectation of negative interest rates by the central bank even further.
The New Zealand economy grew higher than expected by 14% in the third quarter from a previously recorded 11% contraction.
In addition, both currencies were supported by the weakness of the US dollar following positive developments in the US stimulus package and the dovish Federal Reserve statement.
