The headlines from RBA governor Glenn Stevens’ speech are here, and they are pretty much self-explanatory.
But MNI and Reuters both have ‘recaps’ available on the web for further reading. The main takeaway from the speech is Stevens expects (or is telling the market to expect, or is simply jawboning the AUD lower) the dollar to slide as the terms of trade continue to fall.
I posted a quick look at the AUD orders in the wake of his comments, here - all still valid.
