Australian interest rates remain steady
by Elaine Frei
The Australian dollar lost value on Wednesday after the Reserve Bank of Australia surprised by leaving interest rates at 6.25 percent, but the decline proved to be short-lived as it quickly rose to stand 0.6 percent higher versus the US dollar to $0.8180.
The euro strengthened on the session after new figures showed German factory orders rose more than expected in February. The euro added 0.2 percent to £0.6765 in relation to sterling and gained 0.3 percent to $1.3370 against the greenback.
Despite the decline in relation to the euro, sterling gained versus the US currency, adding 0.1 percent to $1.9770 ahead of a new decision on interest rates from the Bank of England, due Thursday.
After early declines, the Japanese yen added 0.2 percent to ¥118.60 versus the US dollar, while it was even against the euro at ¥158.60.
Story link: Australian interest rates remain steady
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