$A slides again

The Australian dollar took a hit in late trading on Wednesday after the release of a Goldman Sachs report suggesting the Reserve Bank will cut rates next month and again in November. The dollar fell below US96¢ to as low as US95.57¢.

By InvestSMART · 6 Jun 2013

By InvestSMART ·
6 Jun 2013

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Frequently Asked Questions about this Article…

What happened to the Australian dollar in the article?

The article reports the Australian dollar took a hit in late trading on Wednesday and fell below US96¢, dropping as low as US95.57¢.

Why did the Australian dollar fall according to the article?

The fall followed the release of a Goldman Sachs report that suggested the Reserve Bank of Australia (RBA) will cut rates next month and again in November.

Which institutions are mentioned as driving the market move?

The article specifically mentions Goldman Sachs, which released the report, and the Reserve Bank of Australia (RBA) as the central bank whose rate decisions were forecast.

How large was the decline in AUD to USD in the report?

The Australian dollar slipped below US96¢ and reached as low as US95.57¢ against the US dollar.

When did the currency drop occur?

According to the article, the drop occurred in late trading on Wednesday after the Goldman Sachs report was released.

What did the Goldman Sachs report predict about RBA interest rates?

The report suggested the Reserve Bank of Australia would cut interest rates next month and again in November.

Does the article say the RBA has already cut rates?

No. The article describes a Goldman Sachs forecast that the RBA will cut rates next month and in November; it does not state that rate cuts have already occurred.

Did the article mention any other reasons for the AUD’s movement?

No. The article links the Australian dollar's late trading decline specifically to the Goldman Sachs report; it does not mention other causes.