5 Nov 2013
Flash: AUD is uncomfortably high – Rabobank
FXstreet.com (London) - Jane Foley, Senior Currency Strategist at Rabobank said that the RBA Governor Stevens was again successful in talking down the AUD overnight.
Key Quote:
“Although the decision by the RBA to leave rates on hold was expected by the market, the comment that the AUD was “uncomfortably high” succeeded in undermining the currency”.
“On balance we expect that while hopes that the Fed will delay tapering could support AUD/USD on a 3 month view that the AUD will be vulnerable into 2014”.
“On a 12 month view we see risk that AUD/USD could revisit this year’s low in the 0.88 region”.
Key Quote:
“Although the decision by the RBA to leave rates on hold was expected by the market, the comment that the AUD was “uncomfortably high” succeeded in undermining the currency”.
“On balance we expect that while hopes that the Fed will delay tapering could support AUD/USD on a 3 month view that the AUD will be vulnerable into 2014”.
“On a 12 month view we see risk that AUD/USD could revisit this year’s low in the 0.88 region”.