RBA: More public comments regarding the high AUD
Yesterday it was Jillian Broadbent who was quoted in the mainstream press as saying that the AUD was too high, and today it’s incoming board member Heather Ridout, who is also saying that more attention needs to be focussed on the high level of the AUD. Perhaps if tomorrow’s CPI data comes in below expectations, then the RBA board might consider cutting by 50bps? Not really the Glenn Steven’s way, as he tends towards being cautious, but its certainly interesting that the public rhetoric is being increased.
Medium-term I still like the sell-big-rally play in AUD/USD. I’ve got a very small core short position there and I am hoping to get better levels to add more over the next few weeks.