The Reserve Bank of Australia continues to cop criticism after its failure to provide the market with any hints over its next likely interest rate moves.

Announcing that the cash rate would be cut to a record low of 2 per cent on Tuesday, RBA governor Glenn Stevens omitted a key statement used previously that "further easing of policy may be appropriate over the period ahead."

Reserve Bank governor Glenn Stevens. Credit:Brendon Thorne

The lack of a guidance of where the central bank will take its monetary policy next left confusion among investors, economists and currency traders, with many reading it as a sign that rates aren't likely to fall any further at the RBA's next meetings.

So despite this week's rate cut - a move which usually weighs on currencies - the Australian dollar marched ever higher, with traders stepping back from bets on further cuts. Buoyed also by the weakness of the US dollar, the Aussie briefly pushed above US80¢ in overnight trading and traded at $US77.79¢ midmorning in Sydney on Thursday. (The local currency had weakened leading up to Tuesday's rate decision, sent lower by a report flagging the central bank's intention to lower the cash rate.)