The Australian dollar rose after the Reserve Bank kept interest rates unchanged, saying monetary policy was appropriate and significant fiscal stimulus would provide support to the economy.
Shortly after the decision was announced at 2.30pm, the dollar traded at $US0.6380, from $US0.6347 before. It had fallen to a one-month low of $US0.6286 earlier in the session.
Against the yen, it rose to 62.08 yen from Monday's 61.69.
Aussie bond futures fell after the Reserve Bank disappointed investors who were expecting at least a 25 basis point cut. Three-year bond futures fell 0.015 points to 96.785, while the 10-year contract pared gains to 95.775.
