The Australian dollar skidded against major counterparts Monday despite growing expectations of a rate cut by the Reserve Bank of Australia and slumping iron ore prices.
The country’s central bank will release its interest rate decision on April 7, while markets in Australia and New Zealand are shut for Easter Monday holiday.
Against the euro and the US dollar, the Aussie closed at €1.4425 and $0.7608. It also ended at ¥90.94, C$0.9494, and NZ$1.0020, respectively.
The material has been provided by InstaForex Company – www.instaforex.com