Glenn Stevens, Governor, Reserve Bank of Australia had this to say yesterday:
"The Australian dollar has declined noticeably against a rising US dollar over the past year, though less so against a basket of currencies. Further depreciation seems both likely and necessary, particularly given the significant declines in key commodity prices."
However, the markets had already factored in RBA's liking for a falling dollar so the Aussie dollar, challenged Glenn Stevens and rose after his rather tepid statement . This was on the backing of a marginal rise in iron ore prices. The euro too strengthened on hopes of Friday for flowers sentiments in regard to hopes for Greece. So all in all, the US dollar has competition!
without any risk or responsibility
"The Australian dollar has declined noticeably against a rising US dollar over the past year, though less so against a basket of currencies. Further depreciation seems both likely and necessary, particularly given the significant declines in key commodity prices."
However, the markets had already factored in RBA's liking for a falling dollar so the Aussie dollar, challenged Glenn Stevens and rose after his rather tepid statement . This was on the backing of a marginal rise in iron ore prices. The euro too strengthened on hopes of Friday for flowers sentiments in regard to hopes for Greece. So all in all, the US dollar has competition!
without any risk or responsibility
No comments:
Post a Comment