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The Reserve Bank of Australia's interest rate decision is due at 12:30 am ET Tuesday. Economists expect the bank to cut rates by 25 basis points to a new record low of 2.00 percent.
Ahead of the announcement, the Australian dollar rose against its major rivals.
As of 12:25 am ET, the Australian dollar traded at 1.4178 against the Euro, 0.7853 against the U.S dollar, 94.33 against the yen and 1.0402 against the NZ dollar.
