Currency Buzz: Australian Dollar Under Pressure As RBA Hints At Rate Cut

The Australian dollar remained near a two-week low on Thursday, as investors were worried that interest rates would most likely be cut this year due to mounting growth risks at home and abroad. The currency is on track for its worst one-day fall in nearly two years after Australias central bank on Wednesday opened the door to a possible rate cut as it acknowledged growing economic risks in a remarkable shift from its long-standing tightening bias. In early trade, the Aussie dollar was marginally lower at $ 0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year.