The Australian dollar was steady against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia lowered interest rates to a new record-low, while the New Zealand dollar moved higher as sentiment on the greenback remained broadly under pressure.
AUD/USD was little changed at 0.7542, after hitting lows of 0.7492 earlier in the session.
The RBA lowered its benchmark interest rate from 1.75% to a new record-low of 1.50%, in line with expectations.
Speaking after the decision, RBA Governor Glenn Stevens said “recent data confirmed that inflation remains quite low.”
NZD/USD gained 0.45% to trade at 0.7204.
Meanwhile, sentiment on the greenback remained vulnerable after the advance read on second quarter U.S. gross domestic product showed on Friday a 1.2% annualized growth rate, well below expectations for 2.6%. First quarter GDP was revised lower to 0.8% from 1.1%.
The disappointing data lessened expectations for an early interest rate rise from the Federal Reserve.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 95.65, still close to Friday’s five-week lows of 95.33.
AUD/USD was little changed at 0.7542, after hitting lows of 0.7492 earlier in the session.
The RBA lowered its benchmark interest rate from 1.75% to a new record-low of 1.50%, in line with expectations.
Speaking after the decision, RBA Governor Glenn Stevens said “recent data confirmed that inflation remains quite low.”
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| Market News |
NZD/USD gained 0.45% to trade at 0.7204.
Meanwhile, sentiment on the greenback remained vulnerable after the advance read on second quarter U.S. gross domestic product showed on Friday a 1.2% annualized growth rate, well below expectations for 2.6%. First quarter GDP was revised lower to 0.8% from 1.1%.
The disappointing data lessened expectations for an early interest rate rise from the Federal Reserve.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 95.65, still close to Friday’s five-week lows of 95.33.
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