Australian Dollar Strengthens After RBA Releases November Meeting Minutes

Australia’s dollar strengthened after the Reserve Bank released minutes of its Nov. 1 meeting when policy makers lowered the cash target by 0.25 percentage point to 4.5 percent.

The currency traded at $1.0210 at 11:31 a.m. in Sydney from $1.0197 before the minutes were released and $1.0205 yesterday in New York.

Australia’s central bank said it decided on “a modest easing” of monetary policy after weighing slower inflation and increased global risks against surging mining investment, minutes of the meeting showed.

To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net

To contact the editor responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net

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