Dollar higher but trading in narrow range
THE Australian dollar is higher as traders weigh up the possibility that the Reserve Bank of Australia will cut the official interest rate in October.
THE Australian dollar is higher as traders weigh up the possibility that the Reserve Bank of Australia will cut the official interest rate in October.
At 1200 AEST on Tuesday, the currency was trading at 104.33 US cents, up from 104.13 US cents on Monday.
Easy Forex senior currency dealer FRANCISCO SOLAR says the Australian dollar was trading in a narrow range.
The RBA has kept the cash rate on hold at 3.5 per cent since June but is widely expected to cut it before the end of the year in response to falling commodity prices and the high value of the Australian dollar
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