Sunday, February 28, 2021

AUD/USD rise is more likely to sluggish till Friday

Here is a chunk up on the Bloomberg web site re the Australian greenback with feedback from Westpac senior forex strategist Sean Callow:

  • “The RBA is likely to be dismayed by the break of 0.80 however given the commodity worth backing is so sturdy, they need to take some consolation that the A$ would not appear overvalued. It is a headwind, however they noticed worse in 2011-12.”

And related from RBA board member Ian Harper alongside related traces.

The Bloomberg piece provides that:

  • A big construct up of choices contracts that give merchants the best to promote as a lot as A$4.three billion of the forex at 79 cents stay in play till Friday, which is more likely to sluggish its ascent over the following few days.

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