Aussie Gains Fifth Day as Rate-Cut Wagers Fall After RBA Meeting
- Reserve Bank says economy's `spare capacity' to continue
- Australia's key rate kept at 2%, as forecast by economists
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The Australian dollar strengthened for a fifth day versus its U.S. peer as traders pared bets that interest rates would be lowered this year by the central bank after it kept them unchanged at a record low of 2 percent on Tuesday.
The Aussie rose against all except three of its 16 major counterparts, reaching a two-week high versus the U.S. currency, after the Reserve Bank of Australia said in a statement that available information “suggests that moderate expansion in the economy continues” and “has been accompanied with somewhat stronger growth of employment.”