Australian Dollar bounces off after central bank's cuts

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Source: Bloomberg
© Scanpix/Agence France-Presse
The Australian Dollar advanced versus all its most-traded peers as the nation's central bank cut the benchmark interest rate to 2.5%. The Aussie gained 0.6% to 89.79 U.S. cents at 5:16 p.m. Sydney time, after it reached 88.48 on Monday. Australia's currency has fallen 11% this year to date, which is the sharpest decline among the major currencies.
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