FXstreet.com (San Francisco) - The Australian dollar is gaining ground against its major counterparts after the RBA's decision to leave its cash rate unchanged at 3.50%, saying that world growth has softened.
AUD/USD fell to as low as 1.0572 immediately upon release of the news, but has reversed losses and trades at fresh 5-month highs, extending above the 1.06 figure to reach as high as 1.0602. EUR/AUD dipped to as low as 1.1693, and now trades at 1.1711 vs. 1.1729 late Monday.
AUD/USD fell to as low as 1.0572 immediately upon release of the news, but has reversed losses and trades at fresh 5-month highs, extending above the 1.06 figure to reach as high as 1.0602. EUR/AUD dipped to as low as 1.1693, and now trades at 1.1711 vs. 1.1729 late Monday.
