The Australian dollar has fallen sharply after official jobs data show the unemployment rate has risen to its highest level in more than a decade.
At 1200 AEDT, the Australia dollar was worth 89.45 US cents, down from 90.64 cents on Wednesday.
Australia's unemployment rate rose to 6.0 per cent in January, the first time it's been at that level since 2003, Australian Bureau of Statistics data show.
The number of people with jobs fell by 3,700 to 11.46 million during the month.
Economists had expected total employment to rise by 15,000 and unemployment to be 5.9 per cent, after a surprise fall of 22,600 jobs in December.
The weaker-than-expected data had pushed the Aussie dollar down in the short term, Commonwealth Bank of Australia chief currency strategist Richard Grace said.
"I expect the Aussie dollar will go below 89 cents over the next 24 hours," he said.
"However, there are a number of off-setting factors that will give the Aussie support."
Mr Grace said the local currency likely would rise again as global economic activity and equity markets continue to lift, commodity prices continue to perform strongly and the US dollar weakens.
Meanwhile, Australian bonds are firmer.
At 1200 AEDT on Thursday, the March 2014 10-year bond futures contract was trading at 95.870 (implying a yield of 4.130 per cent), up from 95.830 (4.170 per cent) on Wednesday.
The March 2014 three-year bond futures contract was at 96.980 (3.020 per cent), up from 96.910 (3.090 per cent).