The Australian dollar got killed against the greenback after the Bank of Canada announced a surprise interest rate cut.
Here’s the chart:
The trigger was an interest rate cut from the Bank of Canada, which took its key interest rate of 1% to 0.75%.
This has led to a rush to buyers for the US dollar and a big sell on the Aussie.
The Australian central bank is enthusiastic about a fall in the Australian dollar, with RBA governor Glenn Stevens last year saying 0.75 against the dollar would be a useful level.
On Wednesday, the Aussie dollar was trading near 0.81 against the dollar.
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