Australian dollar remained weak after a reprieve last week ahead of the central bank’s minutes of the meeting at the October meeting that decided to cut interest rates for the first time in four months.
Australian dollar near record lows after the Governor of the Reserve Bank of Australia Glenn Stevens said that interest rates are likely to be lowered again. The New Zealand dollar touched its lowest level in a month after the industrial services sector reported the first contraction in the last three years.
The Australian dollar traded 0.2% lower at $ 1.0215 level in Sydney after falling 0.3% to $ 1.0233 on Oct. 12. Australian Dollar touched $ 1.0149 on Oct. 8. The New Zealand dollar traded down to 81.30 U.S. cents before trading at 81.51 cents, down 0.2% from last week’s close.