Aussie tumbles after RBA Governor says currency is too high

October 29, 2013

The Australian dollar tumbled half a percent against the US dollar after comments by the Reserve Bank of Australia Governor Glenn Stevens.

The central bank head said that the currency is unusually high and he expects its value to fall lower than it is today because the current fundamentals do not support the value of the currency.

AUDUSD dropped from the Asian session open of $0.9571 down to a low of $0.9502.

Another gainer in the session was the Japanese yen which was lifted after some stronger-than-forecast data from Japan.

USDJPY fell to lows of 97.45, and ended the session 0.13 percent down while EURJPY dropped to lows of 134.27, down 0.12 percent.

The Bank of Japan policy statement due on Thursday will be a risk for the yen. Meanwhile, immediate risk to the dollar/yen pair will be driven by the Federal Reserve policy announcement on Wednesday.

In other currencies, EURUSD was little changed by the end of the Asian session , ending at $1.3786. GBPUSD made some losses, down 0.19 percent to end at $1.6105.

Publication source
FxNet information  FxNet reviews

January 20, 2017
The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
January 20, 2017
A huge disappointment in the UK data
UK retail sales fell most since 2012. We see he fastest pace of decline in almost five years in December. It is due to sales of... pretty much everything from household goods to clothing and food...
January 20, 2017
Trump takes office today. Markets await inauguration speech
Investors await Trump's inauguration and speech due later today as he takes office as the 45th President of the United States. The U.S. dollar was seen giving up some of the gains yesterday with some volatility coming off the EURUSD on the back of the ECB meeting...

Trade360 Rating
 FXTM Rating Trade Rating
Vantage FX Rating
HotForex Rating
XM Rating

EZTrader Rating
365BinaryOption Rating
OptionFair Rating
IQ Option Rating
24option Rating
Empire Option Rating