Dollar falls after RBA rates decision

THE Australian dollar is lower after the Reserve Bank appeared not to be inclined to consider raising its interest rate.

THE Australian dollar is lower after the Reserve Bank appeared not to be inclined to consider raising its interest rate.

At 0635 AEST on Wednesday, the Australian dollar was worth 76.04 US cents, down from 76.17 US cents on Tuesday.

Westpac’s Imre Speizer said markets were quiet overnight because the New York Stock Exchange was closed because of the July 4 US Independence Day public holiday.

“The Australian dollar stabilised, after falling from 0.7680 to 0.7591 in response to a less-hawkish-than-expected RBA statement,” he said. The RBA kept the cash rate at 1.5 per cent at its monthly board meeting on Tuesday.

CURRENCY SNAPSHOT AT 0635 AEST ON WEDNESDAY

One Australian dollar buys:

* 76.04 US cents, from 76.17 US cents on Tuesday

* 86.14 Japanese yen, from 85.95 yen

* 67.02 euro cents, from 66.95 euro cents

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

Originally published as Dollar falls after RBA rates decision