Aussie Strengthens as RBA’s Stevens Defies Calls for Rate Cut

April 7, 2015 6:28 AM

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Australia’s dollar strengthened as central bank Governor Glenn Stevens kept interest rates on hold for a second month, defying traders’ expectations of a cut.

The currency began to climb about a minute before the Reserve Bank of Australia announced that it left the cash rate at a record-low 2.25 percent. The Aussie rose as much as 1.6 percent and strengthened against all its 31 major counterparts. While 17 of 30 economists in a Bloomberg News survey corre...

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