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AUSTRALIAN DOLLAR STRONGER AFTER RATE HIKE.
SYDNEY, March 2 Asia Pulse - The Australian dollar was stronger after the Reserve Bank of Australia lifted the official cash rate by 0.25 percentage points to 5.50 per cent.
At 0930 AEDT the Australian dollar was trading at $US0.7868, before falling slightly to 0.7855 immediately after the rate hike was announced.
However, once the market read the accompanying central bank statement the currency rose to $US0.7875 by 0950 AEDT.
The RBA ended 14 consecutive months of unchanged rates as it announced the rate hike, following yesterday's board meeting.
It is the first time that rates have been changed since December 2003.
...
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Source: HighBeam Research, AUSTRALIAN DOLLAR STRONGER AFTER RATE HIKE.