In 2019, an article in the Wall Street Journal noted: The Australian dollar declined 0.4% against the
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In 2019, an article in the Wall Street Journal noted: “The Australian dollar declined 0.4% against the U.S. dollar . . . after Reserve Bank of Australia cleared the path to an interest-rate cut in June.” Reserve Bank of Australia is the central bank of Australia. Briefly explain the connection between the action of the Reserve Bank of Australia and the decline in the value of the Australian dollar relative to the U.S. dollar.
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