Australian shares soar 1% and the aussie dives 0.5% following the RBA's surprise rate cut. The...

|By:, SA News Editor

Australian shares soar 1% and the aussie dives 0.5% following the RBA's surprise rate cut. The RBA controls short rates in Oz, but the question for aussie traders is whether the central bank has the power to weaken the aussie, which - through a tightening and loosening cycle over the past few years - has simply tagged along with the S&P 500.