AUD/USD: RBA Rate Statement

The Australian Dollar appreciated against the US Dollar, following the RBA Rate statement data release on Tuesday at 04:30 GMT. The AUD/USD exchange currency rate gained 37 pips or 0.54% right after the release. The Aussie continued trading at the 0.6746 level against the Greenback.

Reserve Bank of Australia released the Australian Cash Rate data, which came out in line with the expectations of 0.75%.

According to the official release: "The Board took the decision to lower interest rates further today to support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target. The economy still has spare capacity and lower interest rates will help make inroads into that. The Board also took account of the forces leading to the trend to lower interest rates globally and the effects this trend is having on the Australian economy and inflation outcomes."