RBA cuts interest rate to a record low level of 1.0%, AUD/USD holds steady

Haresh Menghani FXStreet

The Reserve Bank of Australia (RBA), as was widely expected, decided to cut interest rates for the second month in a row to a historic low level of 1.0% at its July monetary policy meeting held this Tuesday.

The decision was on expected lines and hence, did little to prompt any fresh selling around the Australian Dollar, with the AUD/USD pair holding steady above mid-0.6900s.

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Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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