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Reserve Bank of Australia Cuts Interest Rates

September 02nd, 2008 | Category: Forex

Aussie drops in FX tradingFor the first date in seven years, the Reserve Bank of Australia cut interest rates. As a aftereffect, the Aussie is dropping in FX trading on the currency market.

The move was the conclusion of a slowing economy, spurred on by credit market worries, falling oil prices and drops in other commodities. The

Australian dollar is faltering in currency trading, although there is some concept that a recovery may come soon.

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Original post by Eric J. Fox

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