Citi make an interesting point on the Australian dollar - watch for verbal intervention

Citi have been making this point this week in their morning motes (London morning, that is) .... and it is something worth being aware of:

investors will be on guard for renewed RBA verbal intervention given better AUD performance. This should be a limiting factor for gains and spells AUDNZD vulnerability.

The next RBA meeting is on April 7, which is still a good way off. I say that because the RBA has a "media blackout period" - it starts the Wednesday before the monthly RBA board meeting. So, that's from Wednesday April 1. If there is going to be any verbal intervention ('jawboning') from the RBA, expect it before then.