Day: October 7, 2008

Australian Dollar Rebounds after Rate Cut

The Australian dollar got boosted by the central bank’s decision to cut the interest rate by 1 percentage point today and recovered against the other major currencies during the Asian trading session. Not only the rate cut didn’t act as the usual negative factor for the currency’s valuation, but it also helped the Aussie (a nickname for the Australian dollar) to go up from the record-low values against […]