AUD/USD Slides to Key Support after RBA Cuts Rate to Record Low

RBA rate cut: The Reserve Bank of Australia cut its official cash rate from 3.0% to a record low of 2.75%. Although the market has priced in a more dovish RBA, a rate cut at this meeting was a bit of a surprise, and the bank also left room for further rate cut as well. The AUD was pressured and the…

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