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Flash: AUD in a mood to ignore positive news - RBS

FXstreet.com (Barcelona) – AUD continues to trade as a proxy for risk in China and Asia emerging markets, notes Greg Gibbs, FX Strategist at RBS, with the currency ignoring better-than-expected construction data today.

Key Quotes

“The Trading performance of the AUD in recent sessions has been poor reflecting the increasing uncertainty in China and the rhetoric by the RBA focussing on the expected decline in resources investment over the coming several years and desire for a weaker AUD to support investment growth in the non-resources sector.”

“As yet there has been little spill over in policy tightening in China to iron ore prices …read more