Forex News: Aussie Rallies as RBA Cut Rates to 3.00 Percent

Tuesday, 04 December 2012 03:58 GMT

The Australian Dollar rallied versus the U.S. Dollar as the Reserve Bank of Australia cut the benchmark lending rate by 25 basis points to 3.00 percent which was in-line with market expectations of a 90 percent probability that the RBA would cut the cost of capital today.