The Australian dollar on Tuesday achieved gains against the world's reserve currency after the central bank of the South Pacific nation decided to leave borrowing costs unchanged, according to Bloomberg.
The Aussie is high in the historical context, Governor Glenn Stevens said on Tuesday. Its advance early on Tuesday was linked with China noting gains in a manufacturing index for the first time in five months. The Asian nation is a top commerce and trade partner with the South Pacific nation, thus the Aussie is sensitive to Chinese economic news and developments.
"In the Board's judgment, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target," the RBA governor said on Tuesday, according to The Sydney Morning Herald. "On present indications, the most prudent course is likely to be a period of stability in interest rates."
The Aussie pushed to its top value since November 2013 against the greenback on Tuesday, also edging up about 0.1 percent against the Japanese yen.
For the seventh-straight policy meeting, the RBA left interest rates at 2.5 percent, The Sydney Morning Herald reports.
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