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Australian Dollar Falls After RBA Rate Decision
(RTTNews) - At 12:30 am ET in the Asian session on Tuesday, the Reserve Bank of Australia announced its monetary policy decision on interest rates. The central bank kept its benchmark lending rate unchanged at 4.35 percent, as widely expected.
After the RBA rate decision, the Australian dollar fell against its major rivals.
As of 12:31 am ET, the Australian dollar was trading at 0.6613 against the U.S. dollar, 102.19 against the yen, 1.6284 against the euro and 0.9043 against the Canadian dollar.
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Data from Westpac-Melbourne Institute showed that consumer sentiment index rose to 98.5 in August from 93.1 in July. The improvement followed a further reduction in interest rates by the Reserve Bank of Australia. With the latest 25 basis points cut, interest rates dropped by 75 basis points since the start of the year.
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Australian Dollar Falls Against Majors
The Australian dollar weakened against other major currencies in the Asian session on Tuesday.
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