CANBERA (dpa-AFX) - During late New York trading on Tuesday, the Australian currency slightly recovered against the US dollar from morning session's multi-day low.
The Aussie extended its Monday's downward trading against the greenback in Asian and European deals on Tuesday, while the stock markets across the Asia-Pacific region moved mostly lower. The pair closed today's Asian session at 1.0576.
Minutes from the Reserve Bank of Australia's March 6 meeting released today showed that the board members are content with the latest inflation and unemployment data in Australia.
At the meeting, the RBA kept its benchmark cash rate unchanged at 4.25 percent for a second consecutive month - calling the figure appropriate.
Continuing its previous session's weakness, the Australian unit also declined further against the US currency during New York morning deals and fell to a 5-day low of 1.0459 by about 9:45 am ET Tuesday. Thereafter, the pair showed slight gain and as of now trading near 1.0490.
In the US session, the Commerce Department released a report showing an unexpected drop in U.S. housing starts in the month of February.
Copyright RTT News/dpa-AFX
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