AUD: RBA’s Edwards on the AUD – only ‘moderately’ overvalued

Author: Eamonn Sheridan | Category: centralbank

Author: Eamonn Sheridan

From last night (Aust. time), John Edwards – RBA Board member:

PURCHASES of Australian government bonds by foreign central banks and sovereign-wealth funds are about to peak, a central bank policy maker said, signalling expectations that a key support for the strong local currency will soon wane.

Reserve Bank of Australia board member John Edwards, indicated today that the currency is only moderately overvalued and expressed growing confidence in the economic outlook as demand from China, a critical export market, picks up.

Foreign buyers will hit limit on Australian bonds soon, says RBA