Aussie rises after RBA's lowe ruled out negative rates

The Australian dollar rose against the greenback today, after the RBA President Philip Lowe ruled out rates cut to below zero.

Lowe urged companies in Australia to benefit from the interest rates at their historic lows.

The central bank's president said his statements that the Australian economy is unlikely to lower the rate to negative levels.

And emphasized that the European negative rates by the ECB might lead to repercussions on the economy, financial system and the pension system in continent.

Lowe also cited that the treasury bonds yields is below zero in Switzerland, Germany, the Netherlands, France and Japan.

While he believes that the Australian rate should remain at low levels for a long time until the full employment rate and inflation target is met.

As of 17:01 GMT, AUD/USD rose by 0.3% to 0.6861, with an intraday high of 0.6872 and a low of 0.6835.