The Australian dollar staged a comeback on Friday after US Federal Reserve President Janet Yellen reiterated that the central bank would take a cautious approach on interest rate rises.
At close of trade on Friday the Aussie dollar finished at US75.55c up 0.63 percent from Thursday’s trade.
In her latest speech Yellen noted that she was happy with the employment market and that they have almost reached their goal.
“We are coming close to our assigned congressional goal of maximum employment,” Yellen said.
She also noted that growth surrounding the world economy was lagging and the Fed would be prudent in raising rates which sent the US dollar lower against the Australian dollar.
Looking ahead to next week the Aussie dollar may give up its gains on the back of weaker than expected employment due out on Thursday with the figure expected to rise to 5.9 percent.
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