# Australian dollar falls below 71 US cents after Reserve Bank turns 'dovish' on economy

> The Australian dollar fell below 71 US cents after the RBA kept rates on hold and changed its statement to a more dovish tone. Analysts noted the omission of 3 per cent growth and a rewritten final paragraph that hinted at future rate cuts.

- Date: 2019-04-02 · published 2019-04-02T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/59831-australian-dollar-falls-below-71-us-cents-after-reserve-bank-turns-dovish-on
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Markets now price a meaningful chance of rate cuts, which weakens the AUD and reflects softer Australian and China-linked demand outlooks. A weaker AUD can support Australian export volumes in commodities at the margin.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- abc.net.au: https://www.abc.net.au/news/2019-04-03/australian-dollar-falls-below-71-us-cents-rba-decision/10965368?pfmredir=sm

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