Currency ETFs: Australian Dollar Sinks on Rate Cut
May 07, 2013 at 08:54 AM EDT
CurrencyShares Australian Dollar Trust (NYSEArca: FXA) was down nearly 1% Tuesday morning after the central bank cut a key interest rate to the lowest level in a half-century. The Reserve Bank of Australia lowered the official cash rate to 2.75% in a move that wasn’t widely expected. “It is the...