# Australian dollar slumps to 10-year low after New Zealand central bank rate cut - ABC News

> The Reserve Bank of New Zealand unexpectedly cut its official cash rate by 50 basis points to 1 per cent, and the Australian dollar fell to a 10-year low of 66.77 US cents. The move surprised economists, most of whom had expected a 25-basis-point cut.

- Date: 2019-08-07 · published 2019-08-07T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/57837-australian-dollar-slumps-to-10-year-low-after-new-zealand-central-bank-rate-cut
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A sharp drop in the Aussie dollar makes Australian grain, barley and meal exports cheaper for buyers, which can pressure world feed prices.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- abc.net.au: https://www.abc.net.au/news/2019-08-07/australian-dollar-slumps-to-decade-low-on-rbnz-rate-cut/11391886

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.