Tuesday, May 5, 2009

AUD / USD rose against the backdrop of RBA decision

Reserve Bank of Australia left the overnight rate unchanged at 3.0%. In an accompanying statement that the Central Bank has no plans to change the level of rates in the near future. "In assessing the need to further reduce rates ... The Council will focus on changes in economic and financial conditions," - said in a statement. In general, it is no different from the previous one, which also stated that monetary incentives and fiscal policies helped curb mortgage rates at low levels. This decision helped to stabilize the rate Australian dollar to 0.7408 from 0.7388. However, according to analysts, the currency of Australia is still under pressure in a new wave of exit risk. AUD / USD could not be supported in the area of 0.7427, which confirms the limitations of bottom-up movement.

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