Aussie is testing trend highs at 0.9271 despite reports earlier in the day of selling from Asian central banks and real-money players. With the dollar trading weak across the board and commodities playing their anti-dollar role, AUD is enjoying the best of both worlds and looks like it will continue to do so.
Noted RBA watcher Mitchell in the AFR said earlier today the market had misinterpreted Governor Steven’s bullish comments from late last week (RBA should not be timid about hiking rates, a case for 1.10 can be made…) but the market ain’t bitin’. 0.9300 barriers are rumored, traders report.
