RBA: AUD was 5% above TWI model valuation in Q4

Reserve Bank of Australia AUD valuations notes released under Freedom of Information

• Australian dollar was 5% above TWI (trade weighted index) model valuation in Q4
• Australian dollar was about 2% above TWI model valuation in February note

2 to 5% above ... that's not much ...

Does anyone recall Ryan's post from February 23, highlighting that NAB says the Australian dollar

is reasonably priced at these levels, both against the dollar and broader trade weighted terms and it will take lower commodity prices and a narrowing of rate differentials with the US to send the aussie below the recent RBA rate cut lows

More from NAB here: When aussie banks collide - National Australia Bank touts AUD/USD to head to 0.8000

Sure seems like NAB were onto something .... and check out the price action .... its been sideways for pretty much a month now ...