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High-flying dollar a headache for RBA

Mar 20, 2017 (The Australian - ABIX via COMTEX) --

The Australian dollar peaked at $US0.7729 in local trading on 20 March 2017, to its highest level in four months. Rodrigo Catril of National Australia Bank says the currency could test the $US0.80 level, adding that a sharp fall in the greenback is no longer required for the Australian dollar to test its 2016 peak of $US78.35. The strengthening currency may affect the timing of the Reserve Bank's next change in monetary policy, and financial markets have downgraded the chances of an interest rate rise in 2017..

Publication Date: 21 March 2017

RESERVE BANK OF AUSTRALIA
CREDIT SUISSE (AUSTRALIA) LIMITED
GOLDMAN SACHS AUSTRALIA GROUP HOLDINGS PTY LTD
TD SECURITIES
AMP CAPITAL MERIDIEN LIFESTYLE LIMITED
NATIONAL AUSTRALIA BANK LIMITED - ASX NAB
UNITED STATES.  FEDERAL RESERVE BOARD
MORGAN STANLEY AND COMPANY INCORPORATED
ROYAL BANK OF CANADA
CHICAGO BOARD OPTIONS EXCHANGE VOLATILITY INDEX

By David Rogers

Copyright 2017 Roy Morgan Research. All Rights Reserved.

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