10.08.201423:28:56UTC+00Australian dollar recuperating from losses

The Australian dollar recovered its losses last week due to weaker than awaited jobs data and bearish economic update from the Reserve Bank of Australia.

On Monday, the Aussie was trading at 92.76 US cents, up Friday’s 92.58 US cents.

The currency declined to two-month lows last week following the unemployment rate climbed to 6.4% and the RBA’s downbeat quarterly statement.

US President Barack Obama said US warplanes would launch air strikes in Iraq if necessary also pressured the Aussie.

"The Australian dollar finished New York trade little changed on Friday at 92.75 US cents having reached an intra-day, two-month low of 92.39 cents following the downward revision to the Reserve Bank's growth forecast,” said Ray Attrill, Global Co-Head of FX Strategy at National Australia Bank.