Aussie holds weaker after RBA leaves its rate intact

Aussie holds weaker after RBA leaves its rate intact

On Tuesday, the Australian dollar held weaker after the country’s major financial institution didn’t change its interest rate. It definitely hints at an improving economy.

The currency pair AUD/USD dipped 0.31% being worth 0.7803, USD/JPY hit 113.12, soaring 0.33%.

On Tuesday, the Reserve Bank of Australia held its cash rate intact at a record minimum 1.50% just as expected. The given move persuaded financial markets that the Australian economy keeps improving.

Previously, Australia posted that building approvals edged up 0.4% in August, which is below the expected 1.1% revenue, while private house approvals went down 0.6% versus July’s 1% profit.

Estimating the greenback’s value versus a trade-weighted basket of six crucial currencies, the US dollar index rallied 0.24% being worth 93.70.

Overnight, the evergreen buck tacked on versus a basket of key currencies following data disclosing that manufacturing activity inched up to its highest value since 2004. It drove hopes for solid third-quarter economic surge.

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