The Australian dollar fell to a fresh two-month low during overnight trade, before recovering most of its lost ground amid gains on US share markets.
The currency fell to 101.55 US cents early this morning as traders in Europe and the US reacted to the Reserve Bank of Australia cutting to its key interest rate to a record low of 2.75 per cent.
But it rebounded as US stocks pushed higher, with the Dow Jones Industrial Average closing above 15,000 points for the first time.
At 6.30am AEST the Australian dollar was trading at 101.85 US cents, down from 101.90 US cents at yesterday’s local close.
Source:
http://www.theaustralian.com.au/business/markets/australian-dollar-stages-quick-recovery-from-rate-cut/story-e6frg94o-1226637295350
