RBA board member, John Edwards, has given three reasons why he believes the currency remains at elevated levels

RBA board member, John Edwards, has given three reasons why he believes the currency remains at elevated levels. Aside from the RBA dropping it's easing bias Edwards says resources and energy exports are the primary reason for the dollars resilience. In the first two months of the year there was a trade surplus of $2.6 billion, the best start to any year in official data dating back to 1971. Edwards says Australia is in the grip of a bountiful mining and energy export-driven revenue surge. In addition to strong exports he also says that markets have made a relatively seamless transition to the US Fed tapering and there appears to be less concern around China's growth prospects than there was 6 months ago. Full story is available in the AFR: (VIEW LINK) @cweston @jeliseo @pesho