AUD/USD Moves Up After RBA Rate Cut

AUD/USD is trading at 0.7573, up 0.0046. The pair is trading choppy and just under the session highs. The overnight range is moderately wide. The Reserve Bank of Australia (RBA) lowered the cash rate by 25 basis points a record low of 1.50 percent. RBA policy makers said that inflation would low for some time and the prospects for sustainable growth in the Australian economy would be improved by easing.