Investing.com - The Australian dollar was higher against its
U.S. counterpart on Tuesday, after the Reserve Bank of Australia
left interest rates unchanged and as the greenback weakened after
the U.S. government began a partial shutdown.
AUD/USD hit 0.9401 during late Asian trade, the pair's highest
since September 24; the pair subsequently consolidated at 0.9421,
The pair was likely to find support at 0.9281, Monday's low and
resistance at 0.9457, the high of September 23.
In a widely expected decision, the RBA held its benchmark interest
rate at a record low 2.50%, saying that earlier rate cuts are still
filtering through the economy.
In addition, official data showed that retail sales in Australia
rose 0.4% in August, beating expectations for a 0.3% increase,
after a 0.1% rise the previous month.
Meanwhile, the greenback remained under pressure as the U.S.
government began a partial shutdown after lawmakers failed to reach
an agreement on a new budget. It is the first partial government
shutdown in the U.S. for 17 years.
Republicans have insisted on delaying the implementation of
President Obama's health care reforms as a condition for passing
The Aussie was higher against the euro with EUR/AUD retreating
0.59%, to hit 1.4418.
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