Reuters: US Dollar Report: Australian dollar jumps after RBA cuts rate by 25 bps

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Australian dollar jumps after RBA cuts rate by 25 bps Jun 5th 2012, 04:39 TOKYO, June 5 | Tue Jun 5, 2012 12:39am EDT TOKYO, June 5 (Reuters) - The Australian dollar jumped as high as $0.9790 after the Reserve Bank of Australia on Tuesday cut its main cash rate by 25 basis points to 3.50 percent, a decision expected by a small majority of analysts given a background of benign inflation at home and mounting economic dangers globally. The currency later traded at $0.9756, up 0.4 percent on the day.

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