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18 Dec 2013
RBA Stevens fails to provide fresh excuse to sell AUD
FXstreet.com (Bali) - RBA Stevens' comments - speaking in the Australian parliament before the House of Representatives’ Standing Committee on Economics - keep pouring in.
Stevens said "the RBA hasn’t intervened in the currency, but still might", adding that "doesn’t want to signal intervention ahead of time." Stevens also said that a rate vs the USD above 90 cents does not benefit the economy.
Judging by his tone, it looks like the RBA governor may feel slightly more comfortable with present policies, notes John Noonan, Head of IFR Markets, adding that "his comments do not indicate the RBA is close to considering intervention." In view of Noonan, "the main takeaway is that RBA not ready to take action in rates or intervention."
Stevens said "the RBA hasn’t intervened in the currency, but still might", adding that "doesn’t want to signal intervention ahead of time." Stevens also said that a rate vs the USD above 90 cents does not benefit the economy.
Judging by his tone, it looks like the RBA governor may feel slightly more comfortable with present policies, notes John Noonan, Head of IFR Markets, adding that "his comments do not indicate the RBA is close to considering intervention." In view of Noonan, "the main takeaway is that RBA not ready to take action in rates or intervention."