Aussie Dollar On The Rise Even after Rate Cut

This morning the Australian Dollar is on the rise against its major counter parts despite the RBA announcing a 2.0% rate cut. This reflects speculation pre announcement that there maybe an even deeper cut so fx traders have reacted positively to the news with the Australian dollar up 0.45% against the dollar (AUD/USD) and 0.47% against the Yen (AUD/JPY).

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