AUD/USD: Australian Cash Rate and 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 17 pips or 0.25% right after the release. The Aussie continued trading at the 0.6785 level against the US Dollar.

Reserve Bank of Australia released the Australian Cash Rate data, which came out in line with the expectations of 1.00%.

According to the official release: "It is reasonable to expect that an extended period of low interest rates will be required in Australia to make progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments in the labour market closely and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time."