Bell FX: The AUD was one of the weakest performers overnight
Bell FX: The AUD was one of the weakest performers overnight. AUD/USD fell from levels around 0.9180 yesterday afternoon to below 0.9100 in early US trade. Speculation of RBA intervention continues, despite RBA Deputy Governor Lowe yesterday downplaying the likelihood of intervention and saying that the threshold for intervention remains fairly high. Lowe also noted that as resources investment declines over the next few years there is an opportunity for infrastructure investment to assist in the rebalancing of the economy. The big disappointment overnight was the fall in consumer confidence, which fell from 72.4 to 70.4 in November, against expectations of a rise to 72.6 as the Government shutdown ended. The EUR, GBP and Yen all gained notable ground against the USD overnight. Today's Forecast Range USD: 0.9080 - 0.9195
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