The RBA is one of the more savvy central banks, keeping a close eye and ear on market movements and sentiment and using this to their benefit. I think they realise that if they can talk their currency down, just like other central banks have been doing for years, then they’d be silly to pass up on the opportunity.

AUD/USD briefly traded below .9100 and we should also keep a close eye on AUD/NZD, with stop-loss sell orders reportedly sizeable below 1.1725.