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Forex: Aussie stronger for longer; RBA intervention not until sustained $1.10+ - Greg McKenna

By FXstreet.com,  January 02, 2013, 05:38:00 PM EDT

FXstreet.com (Barcelona) - The Australian Dollar has been the out-performer in a post-fiscal cliff world, in which the rate against the US Dollar went as high as 1.0525 before stabilizing circa 1.05...

Greg McKenna, Founder at GlobalFX, notes: "We continue to believe that the Aussie is going to be stronger for longer as Australia, for all the ills that those of here at home continue to see, stands out to global investors as a safe harbour in troubled times."

On the controversial subject of RBA intervention, Greg believes that "the RBA is unlikely to draw a line in the sand unless we have a policy debate here in Australia and the Government would support such a move."

"The preconditions for this are not yet there but a sustained period above 1.10 should it come might change things.For now then the market is free to push the Aussie Dollar where it will" he adds.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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