RBA Holds Rates, AUD and Stocks Flatten



The Reserve Bank of Australia ( RBA ) held its short-term interest rates steady this morning and so far traders have seen the country's stocks flatten out with moderate bearish pressure on the Australian dollar (AUD) arising.

The decline in oil and other commodity prices may partially explain the AUD's slump . The combined force of pessimism, which appears to have reared its head after this rate statement, and a drop in the price of physical assets has so far put a dent in the Aussie's value and could continue to do so throughout the week.

Read more forex trading news on our forex blog .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Forex and Currencies

Referenced Stocks: RBA

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