THE Australian dollar closed slightly lower after mixed employment figures indicated the central bank would keep interest rates on hold in April.
At 5pm (AEDT), the Australian dollar was $US0.9140, down 0.9 per cent from yesterday's close of $US0.9151.
Since7am (AEDT), the local unit traded between $US0.9115 and $US0.9158.
Nomura Australia chief economist Stephen Roberts said the low point of the trading day came after the release of the employment data at 11.30 (AEDT).
The unemployment rate was a seasonally adjusted 5.3 per cent in February, compared with a downwardly revised 5.2 per cent in January, the Australian Bureau of Statistics (ABS) said today.
Total employment rose by just 400 to 10.971 million in February, seasonally adjusted.
Mr Roberts said a weaker Australian dollar was expected after the result.
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"We've moved from a string of very strong employment readings to a not so very strong one.
"It could just be a fiscal blip, but at the very least it would seem to mean that the RBA will bide its time before it makes its next move."
Mr Roberts said the local unit moved in tight range during the course of the day.
"Remarkably there hasn't been a lot of movement," he said.
Mr Roberts forecast the Australian dollar would trade between US$0.9100 and $0.9155 overnight.
He said there was not much data due out in the overnight (AEDT) US session.
"At this point there's not much cause for it to really retrace back to US$0.91 levels."
Sears will close 21 underperforming stores in April and MayDollar trading just below US90 cents
