Aussie Dollar Hits 11-Year Low After RBA Cuts Rates, Hints of More to Come
Wednesday, 2 October 2019 08:23 WIB | CURRENCIES |Dolar Australia,AussieDolar

The Reserve Bank of Australia's (RBA) decision to cut interest rates to the lowest level on record, coupled with strong hints there may be further cuts to come, has sent the Aussie dollar tumbling to the lowest level since the depths of the GFC.

The Aussie fell to 66.72 US cents in overnight trade, down over 1 per cent from where it closed on Monday. It was the lowest level since March 2009.

Rather than the RBA's rate cut, it was the tone of its accompanying monetary policy statement that really did the damage, according to the National Australia Bank's Head of FX Strategy Ray Attrill.

Source : Bloomberg

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