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The Dollar Again Under Pressure As Australia Raise Rates

10/06/09 by Daily Forex Snapshots  
Filed under Forex & Futures

   

G10 Advancers and Decliners vs USD CHF 0.72 EUR 0.60 JPY 0.59 GBP 0.33

The RBA rate meeting took centre stage this morning as the Australian central bank surprised markets by raising interest rates to 3.25% (from 3% prior); becoming the first G20 nation to officially tighten monetary policy since the onset of the financial crisis. AUDUSD surged to new 13 month highs (currently 0.8870) as the bank highlighted it was “now prudent to begin gradually lessening…

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