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18 Mar 2014
Flash: Limited tension around RBA minutes - Westpac
FXStreet (Bali) - The minutes from the RBA Board’s March meeting, due at 00.30 GMT, will be the main AUD mover in Asia, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"Given how firmly on hold policy appears to be, there is limited tension around RBA commentary at the moment. One slight surprise in the 4 March statement was the return of very mild jawboning on AUD, with the observation that “the exchange rate remains high by historical standards.”
"We should see either identical words or very similar, really just a reminder that long term AUD is likely to fall from current levels – not in itself an argument for weaker AUD/USD now, when the Fed is still pursuing QE."
Key Quotes
"Given how firmly on hold policy appears to be, there is limited tension around RBA commentary at the moment. One slight surprise in the 4 March statement was the return of very mild jawboning on AUD, with the observation that “the exchange rate remains high by historical standards.”
"We should see either identical words or very similar, really just a reminder that long term AUD is likely to fall from current levels – not in itself an argument for weaker AUD/USD now, when the Fed is still pursuing QE."