The Australian dollar fell against its most major counterparts in the Asian session on Tuesday, after the Reserve Bank of Australia raised its key interest rate as expected and said that the size of future hikes would be determined by the economic data and the outlook for inflation and the labor market.
The policy board of the RBA, headed by Governor Philip Lowe, decided to lift the cash rate target by 50 basis points to 2.35 percent, the highest level since late 2014.
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