AUD: No change of stance from RBA – Investec

FXStreet (Delhi) – Research Team at Investec, note that Australia left interest rates unchanged at a record low 2%, with the Australian Dollar seeing the biggest fall out of the major currencies last quarter, this increased competitiveness and helped cushion the impact of lower commodity prices and a weaker outlook in key trading partner China.

Key Quotes

“The currency dropped almost 9% in the last three months, with the RBA once again remarking that the currency is adjusting to the significant declines in commodity prices. Additionally the absence of a steer towards another cut in rates has led to a rally in the AUD this morning.”

Research Team at Investec, note that Australia left interest rates unchanged at a record low 2%, with the Australian Dollar seeing the biggest fall out of the major currencies last quarter, this increased competitiveness and helped cushion the impact of lower commodity prices and a weaker outlook in key trading partner China.

(Market News Provided by FXstreet)