Forex Market Update : Epic Research Singapore

The Australian dollar reached its highest level against the greenback in eight months after the Reserve Bank of Australia said it would keep its benchmark cash interest rate at a record-low 2.5%.

The aussie AUDUSD -0.47%   closed at 94.95 cents, up from 94.32 cents on Monday, the largest move Tuesday among G10 currencies. Its climb has reignited talk of a return to parity with the dollar.

The ICE dollar index DXY +0.06%  , which pits the greenback against six other currencies, edged up to 79.826 from 79.784 late Monday as the Dow Jones Industrial Average DJIA +0.77%   moved toward just shy of 17,000.

The British pound GBPUSD -0.03%  closed at $1.7150 compared with $1.710 late Monday, its highest close since October 2008

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