InvestSMART

Aust dollar rises in early trade

Local currency claws back some of the previous session's steep losses.
By · 21 Aug 2013
By ·
21 Aug 2013
comments Comments

The Australian dollar has recovered some of its losses since the Reserve Bank of Australia (RBA) indicated there could be further cuts to the cash rate.

At 0630 AEST, the local unit was trading at 90.77 US cents, up from 90.45 cents on Tuesday.

The Australian dollar fell almost one US cent yesterday after the RBA released the minutes from its August board meeting, when it cut the cash rate to 2.5%.

The minutes used unusually blunt language to say there was the possibility of a further reduction, although not imminently, which saw the local currency fall.

Google News
Follow us on Google News
Go to Google News, then click "Follow" button to add us.
Share this article and show your support
Free Membership
Free Membership
AAP
AAP
Keep on reading more articles from AAP. See more articles
Join the conversation
Join the conversation...
There are comments posted so far. Join the conversation, please login or Sign up.