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Australian dollar falls after RBA cuts rates to all-time low

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The Australian dollar dropped around half a US cent on Tuesday after the Reserve Bank of Australia (RBA) cut its interest rate to a record low 1.5 per cent at its monthly policy meeting.

[SYDNEY] The Australian dollar dropped around half a US cent on Tuesday after the Reserve Bank of Australia (RBA) cut its interest rate to a record low 1.5 per cent at its monthly policy meeting.

The Aussie fell as low as US$0.7486, from US$0.7540 before the RBA, and was at US$0.7515 at 0440 GMT.

The Aussie has gained 3 per cent so far this year.

REUTERS

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