Dollar slips on RBA cut
The local unit shed close to one third of a cent on the back of the Reserve Bank’s statement.
The Australian dollar has plunged about a third of one US cent following the Reserve Bank’s decision to cut the official cash rate.
The Aussie was trading at US75.06 cents at 1435 AEST, down from US75.47c ahead of the 2.30pm (AEST) decision.
The Reserve Bank cut the official cash rate to a new record low of 1.5 per cent, down from its previous level of 1.75 per cent.
AAP
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