Australian Dollar Drops after Surprise RBA Rate Cut

The recent surprise rate cut by the Reserve Bank of Australia (RBA) has sent shockwaves through global markets, with the Australian dollar (AUD) experiencing a notable decline. This decision reflects evolving economic forecasts and underscores the interconnectedness of global finance. The move aims to stimulate borrowing and spending, potentially boosting economic activity and combating deflationary pressures. But how did this impact the AUD, and what does it mean for businesses and investors?