Aussie dollar off 6-year lows as Chinese CPI, Australia jobs data come positive

The Australian dollar moved off a multi-year low against the greenback on Thursday as Chinese inflation numbers as well as Australia's employment data surprised on the higher side.

AUD/USD jumped to 0.7475, up 0.5% on the day. It had hit a six-year low of 0.7372 on 8 July.

Against the Japanese yen, the Australian currency rebounded to 90.65, up 0.8% on the day, and moving off a 5-month low of 89.17 touched before the data releases.

Consumer price inflation in China rose to 1.4% in June on a year-on-year basis, from 1.2% in May, beating analysts' expectations of 1.3%. On a month-on-month basis, the rate improved to 0.0%, from -0.2% when the consensus was for -0.1%.

Data from Australia showed that employers added 7,300 jobs in June, less than the 39,900 addition in May, but better than the market consensus of a reduction by 5,000.

The unemployment rate edged higher to 6%, from 5.9%, but compared to the market forecasts of 6.1%, the outcome was comfortable.

The market focus continue to be on Greece and eurozone with ongoing efforts to avert a collapse of the currency region.

With increasing likelihood of a new bailout deal for the debt-laden country, the euro and regional stocks remain supported.

EURUSD was at 1.1082, up from the previous close of 1.1072, and further off Tuesday's one-month low of 1.0916.

In addition, the US dollar declined late Wednesday as minutes of the latest Fed meeting showed policy-makers struck a dovish note.

"Most participants judged that the conditions for policy firming had not yet been achieved; a number of them cautioned against a premature decision," minutes of the FOMC meeting revealed.

The USD index traded at 96.44 in Asia on Thursday, off the one-month high of 97.44 touched ahead of the release of the Fed meeting minutes.