Forex News: Australian Dollar Retreats Against Majors

Australian Dollar Retreats Against Majors

(RTTNews) - The Australian dollar retreated against other major currencies in the Asian session on Tuesday, after the Reserve Bank of Australia announced its decision on interest rates at the monetary policy meeting. As expected, the RBA raised its benchmark lending rate by 25 basis points, to 4.35 percent from 4.10 percent.

The Australian dollar fell to a 6-day low of 1.6589 against the euro, from a recent high of 1.6476.

Against the U.S. and the Canadian dollars, the aussie slipped to 4-day lows of 0.6455 and 0.8851 from recent highs of 0.6502 and 0.8908, respectively.

The aussie dropped to a 4-day low of 96.92 against the yen, from a recent nearly a 6-month high of 97.59.

Moving away from a recent 4-day high of 1.0900 against the NZ dollar, the aussie edged down to 1.0851.

If the aussie extends its downtrend, it is likely to find support around 1.68 against the euro, 0.62 against the greenback, 0.87 against the loonie, 94.00 against the yen and 1.06 against the kiwi.

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