The Australian dollar is climbing

Screen Shot 2016 09 06 at 7.37.27 AM

Australian dollar is stronger after the Reserve Bank of Australia kept policy on hold.

The currency is up by 0.7% at .7631 against the dollar as of 7:37 a.m. ET.

Earlier, the RBA kept its kept its benchmark interest rate at 1.50%, as expected.

It also suggested that “holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.”

As for the rest of the world, here’s the scoreboard as of 7:31 a.m. ET.

  • The Russian ruble is stronger by 0.5% at 64.7390 per dollar. On Monday, Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market.
  • The euro is up 0.2% at 1.1166 against the dollar after the euro area’s second quarter GDP grew at 0.3%, down from the first quarter’s 0.5%.
  • The US dollar index is down by 0.3% at 95.61 ahead of ISM non-manufacturing, which will cross the wires at 10 a.m. ET.
  • The British pound is stronger by 0.4% at 1.3359 against the dollar.
  • The Japanese yen is down 0.1% at 103.33 per dollar.

NOW WATCH: KRUGMAN: There is an argument for doubling the Fed’s inflation target