Dollar falls after RBA rates decision

THE Australian dollar fell by about 0.3 of a US cent after the Reserve Bank of Australia (RBA) cut the cash rate to 4.5 per cent from 4.75 per cent at its November board meeting.

THE Australian dollar fell by about 0.3 of a US cent after the Reserve Bank of Australia (RBA) cut the cash rate to 4.5 per cent from 4.75 per cent at its November board meeting.

At 14.32pm (AEDT), the currency was at 104.99 US cents, compared with 105.28 US cents just before the RBA announced its decision at 2.30pm (AEDT) today.

The Australian dollar closed at 105.29 US cents yesterday.

Eleven of the 17 economists surveyed by AAP predicted the central bank board would cut the cash rate.