AUD pairs: Possible Reversal

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Fundamentally, demand for the Aussie was fueled today by the RBA statement after leaving Central Bank Interest Rates at 2.5%. The Reserve Bank’s move towards a neutral monetary stance following its board meeting on Tuesday could see interest rates rise for the first time since 2010 this year.

The central bank, which met on Tuesday after a two-month hiatus, released an extensively revised ­statement that was widely interpreted as a shift away from its previous mild easing bias.

RBA Governor Glenn Stevens said in the statement that “on present ­indications, the most prudent course is likely to be a period of stability in ­interest rates”

“More rate rises are likely to follow in early 2015.” Commonwealth Bank senior economist John Peters said.

Technically, a possible reversal is building up on the Australian Dollar against other currencies on board due to the rumor, as the single currency is gathering momentum. I implore investors holding long term positions against the Australian dollar to apply caution on present open deals.


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