Australian Dollar Rises As RBA Keeps Rates In Hold
March 02 2015 - 11:16PM
RTTF2
The Australian dollar strengthened against the other major
currencies in the Asian session on Tuesday, following the
announcement of the Reserve Bank of Australia to leave its cash
rate unchanged at its March meeting.
The monetary policy board maintained the cash rate at 2.25
percent after lowering the rate by 25 basis points last month. The
bank was widely expected to cut its rate by another quarter point
today.
The Australian dollar rose to 1.4230 against the euro for the
first time since January 28. At yesterday's close, the pair was
trading at 1.4398.
Moving away from an early 1-week low of 0.7750 against the U.S.
dollar and a 4-day low of 92.97 against the yen, the aussie
advanced to 5-day highs of 0.7839 and 93.80, respectively. The
aussie closed yesterday's deals at 0.7765 against the greenback and
93.28 against the yen.
Against the New Zealand and the Canadian dollars, the aussie
rose to 5-day highs of 1.0398 and 0.9810 from yesterday's closing
quotes of 1.0336 and 0.9731, respectively.
If the aussie extends its uptrend, it is likely to find
resistance around 1.38 against the euro, 0.80 against the
greenback, 96.50 against the yen, 1.06 against the kiwi and 1.00
against the loonie.
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