Aud Should Remain Uncomfortably High and Possibly Edge Higher Into Year End

Aud Should Remain Uncomfortably High and Possibly Edge Higher Into Year End


Quotes from RBS:
-Sovereign and broad safe haven demand for the AUD in place of the traditional reserve currencies appears to have driven a bigger wedge between the AUD's performance and commodity markets over recent months.
-We see little reason for this 'safety premium' for the AUD to dissipate in the near term. As such, the AUD should remain uncomfortably high and possibly edge higher into year end, especially if commodity prices firm in response to recent global policy easing measures.
-The next key events are the employment data on Thursday, Chinese data on Thursday/Friday and the quarterly RBA Statement on Monetary Policy due on Friday.



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