Australian dollar rises after RBA keeps rates on hold

SYDNEY: The Australian dollar rose a quarter of a cent on Tuesday after the Reserve Bank of Australia kept interest rates at a record low, as widely expected, and did not give an explicit easing bias.

The Aussie climbed to a session peak of $0.9374, from $0.9338 before the RBA decision, to last stand at $0.9371 with a gain of 0.5 percent on the day.

The RBA kept rates on hold at 2.5 percent at its monthly meeting on Tuesday, citing an appropriate monetary policy.