The Australian greenback fell to its lowest stage in three months after Australia introduced lower-than-expected progress for the fourth quarter of 2018, because the outlook for the nation's financial system was extra worrying.
Gross home product progress of the three international locations In line with the Australian Bureau of Statistics, the December to the top of December was zero.2% qoq. This determine was decrease than the forecasts of economists polled by Reuters of zero.three%. The annual progress charge was 2.three%, however economists' estimates had been 2.5%.
The Australian foreign money instantly fell zero.5% to $ zero.705 from its US counterpart, its lowest stage since early January. The greenback index, evaluating the buck to a basket of friends, remained secure at 96.86.
On Tuesday, the Australian central financial institution saved its charges at 1.5% though it left the door open for future charge cuts amid stress on the worldwide financial system and the financial system. slowdown within the Australian actual property market.