7 Feb 2014
Flash: AUD/USD capped below 0.90 - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ comments that AUD/USD has been capped below 0.9000 following
Key Quotes
"The Australian dollar is a little weaker with the AUD/USD rate holding below the 0.90 level although it remains on a firmer footing in the near-term. The RBA released its latest Statement on Monetary Policy overnight which supported their decision to drop their monetary easing bias."
"The SMP revealed that the RBA is slightly more optimistic over the outlook for economic growth in 2014 expecting it now to average between 2.25% and 3.25% before accelerating further to between 2.5% and 3.5% in 2015.”
“The RBA has also shifted higher its outlook for inflation expecting the annual headline rate to be between 2.25% and 3.25% at the end of 2014 and between 2.0% and 3.0% at the end of 2015. The inflation projections for the end of 2015 are 0.5 point higher and will encourage the market to discount additional RBA monetary tightening ahead supporting the Australian dollar."
Key Quotes
"The Australian dollar is a little weaker with the AUD/USD rate holding below the 0.90 level although it remains on a firmer footing in the near-term. The RBA released its latest Statement on Monetary Policy overnight which supported their decision to drop their monetary easing bias."
"The SMP revealed that the RBA is slightly more optimistic over the outlook for economic growth in 2014 expecting it now to average between 2.25% and 3.25% before accelerating further to between 2.5% and 3.5% in 2015.”
“The RBA has also shifted higher its outlook for inflation expecting the annual headline rate to be between 2.25% and 3.25% at the end of 2014 and between 2.0% and 3.0% at the end of 2015. The inflation projections for the end of 2015 are 0.5 point higher and will encourage the market to discount additional RBA monetary tightening ahead supporting the Australian dollar."