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Flash: AUD strengthened modestly overnight on RBA commentary – BTMU

FXstreet.com (Barcelona) – Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the foreign exchange market has remained relatively stable overnight.

Key Quotes

The Australian dollar has strengthened modestly supported by comments from RBA Deputy Governor Lowe who stated overnight that “the threshold for intervention though is fairly high”.”

“However, he didn’t “rule intervention in or out” which has been a long-standing practice for the RBA. Noting that “in the past, we have been prepared to intervene in the currency market when it’s clear the currency was misaligned or the market wasn’t working well.”” …read more