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Flash: AUD strengthening modestly – BTMU

FXstreet.com (London) – The Australian dollar has strengthened modestly supported by comments from RBA. Lee Hardman, strategist at Bank of Tokyo Mitsubishi commented.

Key Quotes:

“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 …read more