Australian dollar pairs AUD/USD and AUD/JPY surged to 1-year highs after official data showed a surprise 0.3% decline in unemployment to 4.6%, signaling stronger labor market fundamentals. The move reflects improved risk appetite as U.S. President Trump's comments on Greenland and Iran eased geopolitical tensions. Gold initially hit record levels before retreating, while Japanese bond yields reached multi-decade peaks. Traders are now focused on U.S. GDP and PCE inflation data due later today, which could influence Fed policy expectations.