Bank for International Settlements data (released March 16) says Australia's REER fell 3% to 92.17 in February, its lowest since August 2009
That's via Bloomberg. the article goes on:
- The RBA (in today's Minutes) says the dollar remains above most estimates of fundamental value, particularly given "significant declines" in key commodity prices
- Citi's terms of trade index for Australia has fallen 83% in the past year; regression analysis on correlation between that gauge and Australian dollar's trade weighted index suggests fair value of latter at 64.08, near its 64.00 level on March 16
-
Note a REER is a country's Real Effective Exchange Rate
-
Meanwhile, AUD/USD is in a tight post-minutes range:
