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The dollar pushed the yen further down Thursday after the strength of the US economy highlighted the need for interest rates to remain high for a longer period as the Bank of Japan (central bank) struggled to defend its super-soft stance. on monetary policy.

The Australian dollar fell after the country’s employment rate fell unexpectedly in July and the unemployment rate rose more than expected.

The Australian dollar fell about 1% after the release of the data, which also affected its New Zealand counterpart.

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And the Japanese yen hit 146.565 against the dollar in early Asian deals, its lowest level since November, after renewed pressure from US-Japan interest rate differentials.

And while most money markets are expecting the Federal Reserve (the U.S. central bank) to keep interest rates unchanged in September, and some are betting that the bank has already completed its monetary tightening cycle, a group of strong economic data recently bolstered sentiment about that interest rates will remain capped for some time.

Data on Wednesday showed a surge in single-family home construction in the United States in July and an increase in future building permits, while an independent report showed a surprising rebound in US industrial production last month.

The euro fell 0.07% to $1.08695 and the pound sterling fell 0.1% to $1.27195.

The Australian dollar lost 0.9% to $0.6365 after the release of employment data, while its New Zealand counterpart fell more than 0.5% to $0.5903. Both hit their lowest levels since November.

The offshore yuan again hit a 9-month low at 7.3470 against the dollar.

The dollar index hit a two-month high of 103.59.