Australian Dollar Recovers After RBA Rate Decision

Australian Dollar Recovers After RBA Rate Decision

1 March 2016, 06:34
Roberto Jacobs
0
90
Australian Dollar Recovers After RBA Rate Decision
01 Maret 2016 11:35 AM

The Australian dollar recovered from early lows against the other major currencies in the Asian session on Tuesday, after the nation's central bank retained its record interest rate for the ninth straight meeting as widely expected by economists.


The policy board of the Reserve Bank of Australia left its cash rate unchanged at 2.00 percent. Policymakers judged that there were reasonable prospects for continued growth in the economy, with inflation close to target.

The Australian dollar rose to 80.38 against the yen and 1.0813 against the NZ dollar, from an early 6-day low of 79.81 and a 4-day low of 1.0765, respectively.

The aussie advanced to 1.5235 against the euro, from an early low of 1.5309.

Against the U.S. and the Canadian dollars, the aussie edged up to 0.7141 and 0.9661 from early lows of 0.7109 and 0.9625, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 83.00 against the yen, 1.09 against the kiwi, 1.48 against the euro, 0.73 against the greenback and 0.99 against the loonie.

The material has been provided by InstaForex Company - www.instaforex.com
Share it with friends: