Just to put that in perspective, back in the depths of the financial crisis, the Aussie dollar bought just 60 US cents (holidays for Aussies have become a whole lot cheaper - not so good for tourists coming Down Under, but!).
Why hasn't it shifted? The main reason is that even by cutting rates by half of one percent, the Aussie cash rate of 3.75% is still way higher than in other developed nations, who are nearly all at crisis levels of 1% or lower.
To some extent, the currency markets must have expected at least one interest rate cut in May or June too.
Banks reaction has been tight, but unsurprising - National Australia Bank (NAB) only passed on a cut in their standard variable rate home loans of 0.32%. Nice work if you can get it.
Hoping for a very important win for the Lilywhites versus Bolton tonight...COYS!