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$A falls on RBA rate cut

AAP logoAAP 2/08/2016

The Australian dollar has plunged about a third of one US cent following the Reserve Bank's decision to cut the official cash rate.

The Aussie was trading at 75.06 US cents at 1435 AEST, down from 75.47 ahead of the 1430 AEST decision.

The Reserve Bank cut the official cash rate to a new record low of 1.5 per cent, down from its previous level of 1.75 per cent.

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