Tuesday saw the Australian dollar climb against the U.S. dollar after central bank governor Glenn Stevens suggested the institution he leads might be heading toward wrapping up its economy-spurring measures because they are working, Dow Jones Newswires reports.
Remarks by the chief of the Reserve Bank of Australia come after it opted to leave interest rates unchanged, which was expected. Stevens said the past 18 months have demonstrated some key yet subtle enhancements.
"Barring offshore shocks, we believe the RBA is in a comfortable position to sit tight for the next couple of meetings as we all wait for low frequency data such as the March-quarter inflation report and capex survey," Asia-Pacific research head Annette Beacher with TD Securities told Dow Jones Newswires on Tuesday.
The Reserve Bank of Australia has not slashed interest rates since December of last year, when they were cut to 3 percent.
On Monday, the first trading session of the second quarter of the year, the Aussie closed at its lowest value in about four weeks against the Japanese yen, according to Reuters.
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