07.08.201401:44:42UTC+00Australian dollar tumbles on weak jobs report

The Australian dollar slipped half a US cent following the unemployment rate reached a 12-year peak.

On Thursday, the Aussie traded at 92.97 US cents, after it hit a high of 93.58 US cents in morning trade.

Jobless rate in the country leaped to 6.4% in July, from June’s 6.0%, based on the Australian Bureau of Statistics report.

“The employment data was the catalyst for the Australian dollar's fall, but the currency was already due to drop. Any rally in the Aussie is going to be short lived,” said Andrew Barnett, Director of LTG GoldRock.

Meanwhile, the Australian bond futures prices climbed. The three-year bond futures contract traded at 97.350, to 2.650%. The 10-year bond was at 96.555, to 3.445%.