UBS – Current strength of the Australian dollar is driven by the wrong reasons

Forex

A strategist at UBS speaking in an interview on Bloomberg TV

  • strengthening AUD doesn’t reflect underlying fundamentals
  • current strength is driven by the wrong reasons
  • doesn’t really reflect strength in the underlying domestic fundamentals
  • if current strength continues, the RBA may act

Do note that the RBA basically said little about the currency strength in Lowe’s statement yesterday. 

Also via UBS, but an overnight note – say 

  • RBA …  statement somewhat optimistic in tone
  • continue to favour buy dips overall 
  • 0.6920  … next areas of resistance. We have come quite some way over the past couple of sessions and as such a little correction or consolidation may be needed before the next leg

A strategist at UBS speaking in an interview on Bloomberg TV
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