This week saw the Aussie fail to break free from a long time slump. The Reserve Bank of Australia made the widely predicted decision to maintain the interest rate at the record low of 1.5%, a decision that has been maintained for 2 years.
For a long time, the Aussie enjoyed support from interest rates that were typically higher than the rest of the developed world. But recent interest rate decisions in the US, Canada and now the Bank of England have seen the Australian dollar fall against its rivals. The Australian dollar fell 0.75% against the US dollar late in the week.