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RBA Stevens say's Aussie will likely fall further - Westpac
FXStreet (Guatemala) - Sean Callow, analyst at Westpac Banking Corporation noted that AUD/USD began its descent in early London around 0.7820, then dropped from 0.7770 to 0.7715 on the release of the prepared text of Governor Stevens’ speech.
Key Quotes:
"He said AUD “has declined and will very likely fall further yet, over time” and “the question of whether (interest rates) should be reduced further has to be on the table.”"
"However he also included various caveats e.g. signs that monetary policy is also supporting consumption and questions over whether high household leverage should be encouraged to increase even further."
"Westpac colleagues in New York didn’t regard Stevens’ overall mood as especially dovish."
