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Westpac Fair Value Estimate Chimes With RBA Governor Lowe's Rhetoric

AUD

A Westpac analyst tweets "RBA Gov Lowe this morning argued A$ is not currently overvalued - we agree. Mid-point of Westpac AUD/USD fair value (estimate) at $0.7860 with range of $0.7580/0.8150. Sharp drop in iron ore prices/flattening of AUD (rates) curve will see fair value drop this week, but unlikely to see A$ as overvalued."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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