Australian dollar is directionless after RBA lifted the cash rate
Australian dollar is directionless after RBA lifted the cash rate, as investors were disappointed by dovish statement following the rate rise.
The Reserve Bank of Australia raised the cash rate by 25 basis points to 3.75 per cent following its monthly board meeting. The Australian dollar traded in a close range of 0.9100 and 0.9186 following the rate hike in the local market but attracted buyers in European and the US market. RBA governor Glenn Stevens said the monetary stimulus put in place during the global economic downturn was being wound back. Aussie last traded at 0.9255.
The Reserve Bank of Australia raised the cash rate by 25 basis points to 3.75 per cent following its monthly board meeting. The Australian dollar traded in a close range of 0.9100 and 0.9186 following the rate hike in the local market but attracted buyers in European and the US market. RBA governor Glenn Stevens said the monetary stimulus put in place during the global economic downturn was being wound back. Aussie last traded at 0.9255.
posted by Money Trading at
9:52 AM
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