AUD Falls on Policy Comments
December 16th, 2009 Posted in Aussie - Kiwi
The Australian Dollar fell the most in six weeks, going below 90.00 cents against the USD, after the Reserve Bank of Australia’s (RBA) Deputy Governor stated that Australia’s monetary policy is “now back in the normal range,” reducing expectations for further interest rate increases. Putting further pressure on the AUD was a government report that stated the Australian economic growth slowed to 0.2% in the last quarter, expanding at half the pace estimated by economists. The Australian Dollar rose 11% against the USD since June 30, the best performer of its 16 most traded counterparts, reaching a high of 94.06 cents. The appreciation came as Australia was the only nation that raised its interest rates an unprecedented 3 consecutive times since October.
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Tags: AUD forecast, AUD trading, AUD/USD trading
