Australian central bank disappoints market expecting strong currency statement

Tue, 01 Jul 2014

Governor Glenn Stevens changed his language about the Australian dollar in today's statement compared to last month's monetary policy review but not as much as some traders had been betting. "The exchange rate remains high by historical standards, particularly given the declines in key commodity prices, and hence is offering less assistance than it might in achieving balanced growth in the economy," Stevens said. A month ago he was noting that a weaker Australian dollar was assisting to achieve balanced growth in the economy but sin...

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