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Stevens reappointed RBA governor for another 3 years

FXstreet.com (Barcelona) - Australian Treasurer Wayne Swan has confirmed today that the period in office for Reserve Bank of Australia Governor Glenn Stevens is set to be extended for another 3 years, ahead of September elections, and before the official term ends on September 17. Swan also appointed Kathryn Fagg as new member of the board, replacing Jillian Broadbent.

Bloomberg had a talk with Paul Bloxham, chief Australia economist at HSBC Holdings Plc and a former RBA economist, who said: "The risk was that it became a political football and that would be something that was negative for markets, but this gives certainty, as he’s widely seen as a strong central bank governor from a global perspective.”

Forex Flash: UK 1Q GDP to rise +0.1% - RBS

Following a -0.3% in last UK 4Q preliminary GDP y/y, RBS expects next April 25 UK GDP will show a small advance: “The UK economy is hardly sprinting out of the blocks at the start of 2013 but modest expansion seems more likely than contraction,” says analyst at RBS Ross Walker, adding: “thus avoiding a symbolic ‘triple-dip’ recession.”
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Forex Flash: KRW tops attractive valuations in Asia - JP Morgan

The biggest drivers in the ADXY in the coming quarters will be KRW, INR and IDR, considered as the best structural long-term value for a combined 25% of the basket, says JP Morgan strategist Daniel Hui.
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