The Aussie Dollar vs. the Renminbi
He who matures early lives in anticipation. --Theodor Adorno
The Reserve Bank of Australia has been relatively aggressive in trying to counter slowing domestic growth by lowering interest rates, with its most recent 25-basis-point cut sending the cost of money to 3.25%. The continued slowdown in China's economy has put pressure on the Australian economy given its sensitivity to commodity demand. By lowering rates, the hope is to jumpstart domestic activity and put pressure on the Australian dollar to make its exports less expensive to foreign buyers, enticing China to buy more....230 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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