ITS ABOUT THE CASH NOTHING ELSE.
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AUD/USD rises despite expected RBA rate cut
Despite some key Australian news and economic data releases on Tuesday that should have placed increased pressure on the Australian dollar, AUD/USD climbed significantly. This was due in part to the fact that some of this news had already been expected and priced-in, as well as the overriding weakness in the US dollar. As widely expected, the Reserve Bank of Australia (RBA) cut its cash rate by 25 basis points on Tuesday to a new record low of 1.50%. Also as expected, a primary justification for this rate cut was low inflation. The RBA’s central bank statement read: “recent data confirm that inflation remains ... (full story)
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