AUD: RBA’s Edwards on the AUD – only ‘moderately’ overvalued
From last night (Aust. time), John Edwards – RBA Board member:
PURCHASES of Australian government bonds by foreign central banks and sovereign-wealth funds are about to peak, a central bank policy maker said, signalling expectations that a key support for the strong local currency will soon wane.
Reserve Bank of Australia board member John Edwards, indicated today that the currency is only moderately overvalued and expressed growing confidence in the economic outlook as demand from China, a critical export market, picks up.