FXstreet.com (London) – The Aussie dollar was pushed higher overnight on comments from Reserve Bank of Australia deputy governor Philip Lowe.
Speaking in Sydney, Lowe said that Australian businesses need to boost efficiency to maintain growth in living standards.
The move higher came from responses to a Q&A question on central bank intervention in the currency, something that RBA governor Glenn Stevens last week said couldn’t be ruled out, pushing the Aussie dollar lower.
“We don’t rule intervention in or out, that’s been a long-standing practice,” said Lowe in response to the question. “In the past, we have been prepared to intervene …read more