The Australian dollar rose today after the central bank unexpectedly raised the interest rates today, increasing the attractiveness of the nation’s assets.
The Reserve Bank of Australia raised its cash rate to 4.75 percent, while the analysts predicted the bank would remain the rate unchanged at 4.50 percent. Glenn Stevens, the Governor of the Reserve Bank of Australia, said in his statement that “the risk of inflation rising again over the medium term remains”.
AUD/USD jumped from 0.9873 to 0.9988 today as of 8:57 GMT, following the advance to 1.0011.
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