TOKYO -- When Australia's central bank shocked markets by raising interest rates by half a percentage point last week, twice as much as expected and the largest rise in over 20 years, the news jolted the Aussie dollar higher. For about an hour.
The Aussie dollar has fallen in value against its American counterpart despite a surprisingly large interest rate rise by the Reserve Bank of Australia. © Reuters
Market Spotlight
Australian dollar: the currency that can't catch a break
U.S. rate rises and China growth fears overshadow booming commodities prices
Read Next
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
Latest on Market Spotlight
