Oversubscribed Australian bonds support AUDUSD

Nothing new in the bond market but the news is trickling thru into the FX market. The Australian Office of Financial Management(AOFM) is expected to issue A$1 Bln or more at 3% maturing 2025 in inflation linked bonds which the government will abolish a 10% withholding tax levied on foreign holders. Analysts expect offers of at least A$3 Bln, well oversubscribed. Talk is that this is lending support to the AUDUSD.

WSJ story here