AUD/USD chopped higher on the as expected RBA rate cut announcement

The Reserve Bank of Australia has finally joined its global peer central banks in cutting rates. Well, once. It's a start:

• RBA CUTS by 25bp, as widely expected (to 4.1%, from 4.35% previously)

Check out that post for the details. It's a 'hawkish' cut to the extent that its not indicating a rapid cutting cycle ahead. Not at all.

AUD/USD update: