A strategist at UBS speaking in an interview on Bloomberg TV
- strengthening AUD doesn't reflect underlying fundamentals
- current strength is driven by the wrong reasons
- doesn't really reflect strength in the underlying domestic fundamentals
- if current strength continues, the RBA may act
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Do note that the RBA basically said little about the currency strength in Lowe's statement yesterday.
Also via UBS, but an overnight note - say
- RBA ... statement somewhat optimistic in tone
- continue to favour buy dips overall
- 0.6920 ... next areas of resistance. We have come quite some way over the past couple of sessions and as such a little correction or consolidation may be needed before the next leg
