AUD/USD to 0.7650 after RBA Sits at 2%

Australia’s central bank kept interest rates steady at a record low 2.0 percent, in line with analysts’ expectations, but the Australian dollar still pushed higher.

All 24 economists polled by Reuters expect the RBA to be on hold, but eight respondents say interest rates could be reduced to 1.75 percent or lower by December, if non-mining business investments remain subdued.

The Australian dollar strengthened 0.4 percent to trade at $0.7654, from $0.7628 prior to the data. The benchmark S&P ASX 200 index widened losses slightly to fall 1.3 percent, touching an eight-day low.

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Stuart McPhee
Stuart McPhee
Australian private trader for nearly 20 years, author, trading coach, licensed adviser and regular speaker at major trading events all around the world. Graduate of RMC Duntroon and former Australian Army Officer.