Australian Dollar Rises Further After RBA Rate Decision
August 04 2015 - 1:05AM
RTTF2
The Australian dollar rose further against the other major
currencies in the late Asian session on Tuesday after the Reserve
Bank of Australia maintained its key interest rate at a record low,
as widely expected by economists.
The policy board governed by Glenn Stevens decided to leave the
cash rate at 2.00 percent. The bank lowered the rates by 25 basis
points each in February and May.
The Australian dollar rose to a 2-month high of 0.9668 against
the Canadian dollar, from an early low of 0.9562.
Against the yen, the euro and the NZ dollar, the aussie advanced
to near 2-week highs of 91.08, 1.4890 and 1.1193 from early lows of
90.04, 1.5066 and 1.1066, respectively.
The aussie climbed to a 4-day high of 0.7346 against the U.S.
dollar, from an early low of 0.7262.
If the aussie extends its uptrend, it is likely to find
resistance around 0.97 against the loonie, 93.00 against the yen,
1.46 against the euro, 1.13 against the kiwi and 0.75 against the
greenback.
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