Reserve Bank of Australia slash rates by 0.5%

Published on in Foreign Exchange News by

Foreign Exchange Rates Ranges EUR/USD 1.3233-1.3264

Foreign Exchange Rates Ranges GBP/USD 1.6211-1.6234

Foreign Exchange Rates Ranges GBP/EUR 1.2228-1.2261

Little change from yesterday’s levels as the rest of Europe is closed for May day bank holidays today.

Sterling has seen a small correction, as the weight of corporate interest to buy USD’s close to $ 1.6300 level resulted in Sterling weakening against a basket of currencies.

The Reserve Bank of Australia in a surprise move slashed rates by 0.5% providing a shot in the arm for Australia’s non-resource economy. Rates now stand at 3.75% (lowest since early 2010), as a result the AUD is weaker against a broad range of currencies.

Foreign Exchange Rates EUR/USD currently 1.3256. Support 1.3000, resistance 1.3300.

Foreign Exchange Rates GBP/USD currently 1.6210. Support 1.6000, resistance 1.6300.

Foreign Exchange Rates GBP/EUR currently 1.2227. Support 1.2100, resistance 1.2400.

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