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Australian dollar jumps after RBA rate hike

Published 10/05/2009, 11:40 PM

TOKYO, Oct 6 (Reuters) - The Australian dollar jumped against the dollar and the yen on Tuesday after the Reserve Bank of Australia raised interest rates by 25 basis points to 3.25 percent.

The Australian dollar rose to $0.8841, up 0.8 percent from late U.S. trading on Monday. It stood at around $0.8770 before the central bank's decision. The Australian dollar hit a 14-month high of $0.8860 last week.

The Australian dollar trimmed its losses against the yen and was up 0.3 percent at 78.77 yen, having climbed from around 78.00 yen.

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