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AUD slides on RBA intervention chatter – TradeTheNews

FXStreet (Barcelona) - The TradeTheNews Research Team suggest that the Aussie dollar fell 55pips toward $0.8670 due to the RBA assistant Gov Kent’s remarks of a currency intervention.

Key Quotes

“Kent reiterated the most recent RBA position that AUD exchange rate is still too high relative to fundamentals, and that despite of signs of improvement, labor market is subdued.”

“Other comments were similarly dovish, noting non-mining investment recovery may not be as strong as those in the past, and that mining investment would fall further in the coming year, all leading up to the threat that "RBA has not ruled out intervention" as a policy option.”

“Note that the dovish remarks were also in spite of consumer inflation expectations hitting a 6-month high of 4.1% - well above the RBA target range.”

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