In the local Australian press, "Recent Reserve Bank of Australia attempts to talk down the Australian dollar may prove fruitless"

Economists citing:

  • institutional demand for the relatively high yield offered on Australian bonds
  • Recent improvements in key commodity prices

Are keeping upward pressure on the AUD

Comments from National Australia Bank's global co-head of foreign exchange strategy Ray Attrill:

(RBA's) Edwards comments were reminiscent of past episodes of so-called "jawboning" by RBA governor Glenn Stevens and other board members

  • "The point he makes is that if the Fed's on hold and the US dollar is not going up for the time being"
  • "It feels like we're back in that situation in 2014 and early-2015 when the RBA would basically say 'look, the Aussie needs to be lower, but we've got to wait for the Fed to start tightening"

Via Sydney Morning Herald