Currencies  |  October 02, 2012 10:42:19

Australian bank to support exporters

Australia's central bank (RBA) on Tuesday night cut its main interest rate by a quarter percentage point to 3.25 percent. It was the third hit in the last six months. With this step, the Bank seeks to protect local exporters, especially against the strengthening dollar. They already have enough to worry about with the slowdown in production in their traditional physical market - China.
Australian dollar following the intervention Night has fallen to its monthly lows, while Australian shares change welcomed by extending its gains.
AUDUSD below track the progress during today's Asian trading session.
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Australská banka podpořila exportéry

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