“Compared to its peers, the RBA is very sincere in its recognition that QE plays a fundamental role in reducing the value of the exchange rate,” they note. Rabobank analysts.
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“In a monetary policy speech this week, RBA Lieutenant Governor Debelle referred to the exchange rate on numerous occasions and stated that the goal of the Bank’s bond purchase program is to push down bond yields and the exchange rate to stimulate the Australian economy ”.
“Much to the dismay of the AUD bulls, despite record highs in various commodity prices, the value of AUD / USD has remained solid in recent weeks, only rising after surprisingly weak data from the April payrolls in the US undercut the dollar. “
“While we see the potential for AUD / USD to rise to 0.79 on a 6-12 month outlook, the strength of the RBA’s moderate forward orientation coupled with mounting tensions between Canberra and Beijing is likely to continue to hold back the performance of the RBA. AUD. “
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