Aussie surges on strong labor data

AUD/USD rose 0.7% to 0.6820 after data showed Australia’s labor market grew more than expected in June, with net employment rising by 32,600 from May, exceeding market forecasts for an increase of 15,000.

This week’s RBA minutes suggested the central bank was still considering more rate hikes and a robust jobs market could make such a move more likely.

Elsewhere, USD/JPY fell 0.1% to 139.48 ahead of the Bank of Japan’s policy meeting next week, while USD/CNY fell 0.6% higher to 7.1851, following reports of government intervention to support the battered currency.