RBA Board member John Edwards in the Wall Street Journal;
“I would prefer a lower currency and it does pose some problems for us… But I don’t think they’re at all, at this point, the kinds of issues that require us to make a response.”
- Edwards said Australia’s economy is coping better than expected with the persistently strong $A
- This mitigated the immediate need for more interest-rate cuts
- external climate is strong
- Says jobs, output growth, retail sales, housing construction “all pretty good numbers”
Australia Is Coping With Strong Currency, Says RBA Board Member (gated)
AUD/USD is stronger today, having popped above 1.05 briefly overnight, running offers 1.0510/20. Support seen now around 1.0450
