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2014.10.0523:06:39UTC+00Australian dollar still trading below 87 US cents

The Australian dollar was struggling to recapture its losses after dropping to a four-year trough following the firm US jobs figures.

On Monday, the Aussie traded at 86.78 US cents, down from Friday’s 87.97 US cents.

The currency Saturday morning fell as low as 86.43 US cents, its lowest since July 2010.

According to the US Labor Department, there were 248,000 new jobs in September, which sent the unemployment down to a six-year low of 5.9%.

“Figures helped the US dollar rally against the major currencies. US non-farm payrolls report was strong in just about every respect bar one and that one was the hourly earnings that was flat, just a combination of strong growth without any wages inflation scare,” said David de Garis, Senior Economist at National Australia Bank. 

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