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Aussie rises despite RBA Governor Lowe remarks
Australian dollar rose against greenback today despite the Central Bank President Philip Lowe remarks that the decision to cut interest rates is on the table.
Lowe highly praised the labor market and the large number of jobs added by the Australian economy in recent years, but warned of the impacts from the US-China trade war.
He added that recent economic data - including GDP and labor market data - did not indicate that the Australian economy may need to be stimulated, and therefore, the decision to cut interest rates is still on the table.
Lowe's comments come after the Federal Reserve's decision to keep the interest rate unchanged and hint at the possibility of cutting it this year.
These hints suggest that the central bank may have seen some signs of a slowing US economy while assuring on monitoring the released data.
In terms of trade, at 15:59 GMT, AUD/USD rose by 0.5% to 0.6915, with a high of 0.6936 and a low of 0.6879.
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