For me there is nothing new in the RBA statement (expected)
For me there is nothing new in the RBA statement (expected). There are two clear things driving currency markets 1) central bank policy divergence 2) yield spreads. As long as the RBA has an easing bias (despite few believing they will move anytime soon) they have bought time for the Fed to taper and drive AUD/USD lower.
About this contributor
Chief Market Strategist, IG Markets
Chris joined IG as a sales trader in 2006, having worked previously at Morgan Stanley, Credit Suisse and Merrill Lynch, gaining exposure to both equity and fixed income trading. After accruing 15 years' experience in financial markets, Chris...
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