Australian wage pressure was more moderate than expected, rising 0.5% in Q3, the same as in Q2 even as economists were looking for a larger increase, explains the research team at BBH.
“The Australian dropped half around half a cent on the disappointment. It was sold through $0.7600 to trade at four-month lows. The next target is near $0.7530. Mining, gas, and water employees saw weak wage increases, while the hospitality, food and public workers saw better wage growth.”
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