Bell FX: The AUD has moved above US 0.9100 in preparation for key American economic data releases. The RBA looks to be quite comfortably on hold here and...

Bell Potter

Bell FX: The AUD has moved above US 0.9100 in preparation for key American economic data releases. The RBA looks to be quite comfortably on hold here and should be for many months to come, even though the meeting minutes in two weeks' time are highly likely to show that the Board is not willing to shut off the possibility of reducing rates again. There was not much out in Europe save for a strong UK construction PMI and which helped keep GBP aloft. The more interesting move in currencies has been further strength in the NZD and which has seen the AUD/NZD cross push down to a new post-Q4 2008 low of 1.1053. Today's Forecast Range USD: 0.9100 - 0.9175


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