In the Aussie press from late yesterday, comments from TD Securities chief Asia-Pacific macro strategist Annette Beacher:
Says the AUD is undervalued.
Cites:
- Recent recovery in the price of iron ore (for example, and posted a couple of days ago here, but I'll update it a little later)
- Volumes of ore exports from Western Australia suggests the Chinese economy is not slowing as much as is feared
Says the Australian dollar should be around 76 US cents
On the RBA:
- "We continue to expect the RBA to hold the line on the 2 per cent cash rate, with the housing sector not needing any more stimulus"
- "We see the lower Australian dollar providing welcome support for businesses and exporters"
