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VIEW: ANZ note that "many have wondered.........>

- Bonds & Currency News | Market News" >
RBA: VIEW: ANZ note that "many have wondered whether the recent rally in the
AUD, would catch the eye of the central bank. But we find that, historically,
the RBA's focus on the currency has been closely linked to valuation, rather
than absolute levels. The rally has come from a position of currency
undervaluation and is aligned to improvements in both risk appetite and global
growth prospects. As a result, at this stage, the move is unlikely to warrant
attention from the RBA. Should the improvement in growth fundamentals stall, but
the AUD continue to rally alongside improved liquidity, we think the currency
will attract the RBA's attention above US$0.70, and become a larger
consideration for the setting of policy above US$0.75."
- Bonds & Currency News | Market News" >
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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