Australian currency drops following RBA rate announcement

Tuesday, 5 April 2011 12:57

Presumably pressured by the extremely high profit-taking high it reached at 1.0416, the AUD fell to 1.0315 against the US dollar- about 0.4%

This occured following the Reserve Bank of Australia announcement that interest rates at 4.75% are going to hold as decided by their policy and rate setting committee. 

AUD/USD is currently trading at 1.0329

Meanwhile, unemployment rates fall in Europe and The United States of America.  Most countries that use the european currency have seen a good fall in unemployment rate, keeping the rate below 10% for the first time in year. 

As well as in USA, unemployment rates keep falling for the second month in a row at 8.8% of the population is unemployed.