The Australian dollar slid Tuesday, as investors still cautious before the Reserve Bank of Australia’s interest rate decision.
The Aussie finished at 66.48 euro cents from Monday’s 66.40 euro cents, and 72.86 US cents from 72.99 US cents.
While the RBA is not prepared to cut rates for now, “further easing should be considered given the strains on China’s economy,” said Kathy Lien, Managing Director at BK Asset Management.
Lien added China’s plunging stock market and disappointing manufacturing data would press the central bank to lower rates again.
The material has been provided by InstaForex Company – www.instaforex.com