Dollar falls 0.2 US cents on Reserve Bank minutes
THE dollar falls almost 0.2 of a US cent after RBA releases minutes from its boardroom meeting discussing the official cash rate.
THE dollar fell almost 0.2 of a US cent after the release of the Reserve Bank (RBA) minutes today.
At 11.33am (AEDT), the dollar was trading at 98.21 US cents, down from 98.39 cents before the minutes were released at 11.30am (AEDT).
The RBA said strengthening economic activity and gradually rising inflation were key factors in the central bank's decision to lift the cash rate in November.
The minutes also reveal the board took into consideration that bank lending rates could increase by more than the cash rate.
The RBA raised the cash rate by 25 basis points to 4.75 per earlier this month.
The local dollar opened the domestic session at 98.80 US cents at 7.00am (AEDT), up from yesterday's close of 98.18 cents.
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