The Australian dollar's spiking — here's what's happening in FX

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The Australian dollar strengthened by as much as 1.1% to .7446 per dollar after the central bank suggested there won't be a rate cut anytime soon.
The Reserve Bank of Australia kept its benchmark interest rate at a record-low of 1.75%.
"Taking account of the available information, and having eased monetary policy at its May meeting, the board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy