Australian dollar knocked almost a US cent lower

THE Australian dollar has been knocked almost one US cent lower after the head of the RBA made it clear another interest rate cut remains on the cards.

THE Australian dollar has been knocked almost one US cent lower after the head of the Reserve Bank made it clear that another interest rate cut remains on the cards.

At 0630 AEST on Tuesday, the local currency was trading at 77.19 US cents, down from 78.13 cents on Monday.

In a speech in New York overnight, RBA governor Glenn Stevens flagged the possibility of further rate cuts.

“The board has, moreover, clearly signalled a willingness to lower it even further, should that be helpful in securing sustainable economic growth,” he said.

CURRENCY SNAPSHOT AT 0630 AEST ON TUESDAY

* 77.19 US cents, from 78.13 cents on Monday

* 92.04 Japanese yen, from 92.65 yen

* 71.89 euro cents, from 72.43 euro cents

(*Currency closes taken at 1700 AEST previous local session)

Source: IRESS

Originally published as Australian dollar knocked almost a US cent lower