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Dollar up on US data

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The Australian dollar has bounced on the back of key US employment figures.

Early Monday, the local currency was trading at 92.85 US cents, up from 92.36 cents on Friday.

The US added 192,000 jobs in March as private employers boosted hiring.

But the market had expected 200,000 jobs, Westpac senior market strategist Imre Speizer said.

“While the report, net of revisions, was decent … the market had expected something much stronger,” he said.

“The snow disruption impact on existing payrolls was minimal, seemingly limited to construction jobs temporarily lost in December but recovered in January.

“The snow seemed to co-incide with a soft patch in hiring at the turn of the year … and although payrolls growth has picked up since then, it is yet to regain the late 2013 hiring pace.”

The data saw the greenback fall while the Australian dollar rose from 92.40 US cents to 93.08 cents, Speizer said.

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