Australian Dollar Tumbles After RBA Surprises With Emergency Rate Cut
AUD/USD plunged to 0.6280 after the Reserve Bank of Australia delivered a surprise 50-basis-point rate cut to 3.60%, its first emergency action since the COVID pandemic. Governor Bullock cited deteriorating household balance sheets.
AUD/USD plunged to 0.6280 after the Reserve Bank of Australia delivered a surprise 50-basis-point rate cut to 3.60%, its first emergency action since the COVID pandemic. Governor Bullock cited deteriorating household balance sheets.
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