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RBA Left Cash Rate Unchanged at 2.00%. Aussie Rose to 0.7215.

The Reserve Bank of Australia keeps their key interest rate unchanged at 2.00% as expected and pushed the aussie dollar higher after a knee jerk reaction and dipping to 0.7128 (3:25 GMT) before trading progressively higher to the intraday high of 0.7218 in Europe on short covering as the market has been short aussie in the past week. The RBA announcment dissapointed a few players who have been anticipating a rate cut from the central bank and thus being the reason for the assie dollar's climb to 0.7218.

RBA statements: "Monetary policy needs to be accommodative, AUD adjusting to lower commodity prices, Regulatory measures helping contain housing market risks, Scope for further easing if needed, Inflation is low and should remain so, and policy makers needs to continue to assessing conditions whether current rate setting is effective.

Chart: WorldWideMarkets Alpha Trader



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