The Australian dollar has risen Thursday, buying 67.59 US cents from 67.11 US cents on Wednesday.
Yesterday, the local currency hit a 10-year low of 66.77 US cents after New Zealand’s central bank cut the country’s cash rate by a larger than expected 50 basis points.
The Aussie was trading as high as 67.83 US cents on Wednesday morning but fell more than 1.5 per cent after the Reserve Bank of New Zealand cut its official cash rate to 1.0 per cent in an attempt to reheat the country’s cooling economy.
