$A falls after RBA cuts cash rate

THE Australian dollar fell below 102 US cents after the central bank cut the cash rate at its board meeting on Tuesday.

The Reserve Bank of Australia cut the cash rate by a quarter of a percentage point to record low of 2.75 per cent at its May board meeting.

At 1434 AEST, the currency was worth 101.88 US cents, down from 102.37 US cents shortly before the bank's decision was announced.

The currency ended Monday's local session at 102.72 US cents.

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