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Australian dollar jumps after RBA cuts rate by 25 bps
June 5, 2012 / 4:41 AM / 5 years ago

Australian dollar jumps after RBA cuts rate by 25 bps

TOKYO, June 5 (Reuters) - The Australian dollar jumped as high as $0.9790 after the Reserve Bank of Australia on Tuesday cut its main cash rate by 25 basis points to 3.50 percent, a decision expected by a small majority of analysts given a background of benign inflation at home and mounting economic dangers globally.

The currency later traded at $0.9756, up 0.4 percent on the day. (Reporting by Antoni Slodkowski; Editing by Edwina Gibbs)

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