- The Canadian dollar picked up on Tuesday as strong data showed that the Canadian economy grew more than expected at the end of last year. Year-on-year Canadian growth data rose 2.4% in the fourth quarter of 2014, coming out higher than the initial expectation of a 2.2% rise. This was fantastic news for the Canadian economy and the Canadian dollar as it jumped over half a percent against its US neighbour.
- Tuesday saw the Reserve Bank of Australia hold its cash rate at 2.25%, a record low, which surprised investors as a further cut was expected which benefitted the Australian dollar. However they did indicate that they may make a move to cut the rate further to spur growth. The outcome was that it would be looked at in more detail in the next meeting.
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