Australian Dollar Falls as RBA Adds Second Round of Bond Purchases

The Reserve Bank of Australia (RBA) kept its cash rate on hold at 0.10% in its first policy rate decision of the year, a move widely expected by economists and market participants despite strong employment and inflation data over the past few months. The Australian Dollar saw a strong lead-up to the rate announcement versus the Greenback, with AUD/USD climbing 0.50% in the minutes before the decision crossed the wires. However, Aussie-Dollar strength wavered after the rate decision as traders digested the news. The RBA’s A$100 billion round of bond purchases – which is now roughly halfway complete – … (full story)

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