Australian Dollar Tumbles After RBA Stands Pat

The Australian dollar dropped following the monetary policy decision of the Reserve Bank of Australia, even though the central bank did not make changes to its monetary policy and the statement was neutral.
As was widely expected, the RBA left its main interest rate at 1.5%. The policy statement was little changed from the previous one. Overall, the central bank continued to demonstrate that it is in no rush to start raising rates.
AUD/USD dropped from 0.7221 to 0.7168 as of 10:48 GMT today. EUR/AUD gained from 1.6018 to 1.6058.

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