04/04 Week, page-70

AFR;;

1 min ago – 2.40PMAussie dollar spikes, ASX falls the Aussie dollar has spiked to its highest level since June and the Australian sharemarket has tumbled after the RBA removed any reference to it remaining “patient” when it comes to adjusting monetary policy, opening the door to an imminent rate rise.The Aussie dollar spiked 0.5 per cent to US75.78¢, just after the announcement, hitting its highest level in over nine months.This put pressure on the Australian sharemarket, which wiped a 0.6 per cent advance to be trading just 0.2 per cent higher at 7530.3.The Australia 10-year bond yield jumped 3 basis points to 2.84 per cent while the Australia 2-year yield jumped 4 basis points to 1.85 per cent.