Australia's Reserve Bank cut its cash rate to a record low of 2.0 percent from 2.25 percent but it's what it didn't do that helped the Aussie strengthen in the decision's wake.
Conspicuously absent from the RBA's statement was a bias for more easing. A sense that interest rates have hit bottom and the bank has adopted more of a neutral bias limits downside risk for the Aussie dollar.
Still, until China's slowing economy shows signs of stabilizing, the Aussie would remain vulnerable to further falls.
