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Forex Flash: Relative central bank policy would benefit AUD – Scotiabank

By FXstreet.com,  January 02, 2013, 01:14:00 PM EDT

FXstreet.com (Barcelona) - The Aussie dollar is trimming early gains, now trading in sub 1.0500 levels as risk aversion is gathering pace among investors. The AUD has greatly benefited from the events in the US economy, rapidly climbing from the 1.0380 region to session highs around 1.0525

"Recent strength has not allowed for a full retracement of the decline from mid-December highs just below 1.06, as 1.05 appears to have become a level of near term resistance. Relative central bank policy continues to provide support for AUD given the ongoing decline in expectations for rate cuts from the RBA", assesses E.Theoret, Currency Strategist at Scotiabank.




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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