Huge selling from the US overnight from 1.0250 down coincided with Bernanke’s testimony to the Senate Banking Committee. And its not like Mr. B really said very much.It seems risk has become a four-letter word again since the Italian election.
For today, topside:
- 1.0295/05 sell orders
- Initial sellers at 1.0240/50
Downside:
- Buying ahead of rumoured barrier-option related buying at 1.0200. Still Australian exporter bids lower down.
- Stops below 1.0190
Some discussion in the overnight press to be aware of:
Another RBA board member speaks out on the high $A
Also, RBA monetary policy board meeting due on Tuesday, March 5 – no interest rate changes are expected.