The Australian dollar went up against all other major currencies today after the countrys central bank decided to leave the policy interest rate unchanged, unexpectedly stopping its most aggressive rate-cutting streak.
The Reserve Bank of Australia left the rate unchanged at 3.25 percent today for the first time in seven month, stating that the record low interest rates and the governments spending are already helping the national economy to recover. The Aussie rose against the U.S. dollar, the Japanese yen, the Great Britain pound and the euro.
The analysts expect also a positive outcome from the tomorrows report on the fourth quarter GDP growth in Australia. The median forecast is at 0.2 percent advancement, which compared to the other developed economies is quite good. The traders believe that the current growth of AUD is sustainable in the short-term and it will probably last for several weeks.
AUD/USD rose from 0.6291 to 0.6431 as of 8:57 GMT today. AUD/JPY advanced from 61.06 to 62.92; AUD/NZD went up from 1.2775 to 1.2877. EUR/UAD declined from 1.9951 to 1.9652 today.
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