FXStreet (Edinburgh) – Strategist Sean Callow at Westpac sees the pair grinding lower to the 0.7600 area in the near term.
Key Quotes
“The RBA Board’s June minutes are due Tue. The statement as they held steady caused debate over whether there was a semi-hidden easing bias”.
“Governor Stevens’ speech this week indicated a mild easing bias but there will still be interest in the minutes. RBA’s Kent also speaks on Mon. The data calendar however is very low key”.
“The USD/JPY (and thus USD/Asia) slide plus strong Aust May jobs data produced another probe of the high 0.77s”.
“Ongoing iron ore price recovery helps too. Yet China’s growth pulse remains muted and USD sentiment should be bolstered by the FOMC meeting. Look for AUD/USD to fade back to the 0.76 handle but for AUD/NZD to remain firmly bid”.
(Market News Provided by FXstreet)