17 Jun 2014
AUD gains limited? – Danske Bank
FXStreet (Edinburgh) - Allan von Mehren, Chief Analyst at Danske Bank, sees further upside in AUD as limited.
Key Quotes
“It has been relatively quiet on the FX market so far this week. AUD trades nearly 0.5% lower against USD this morning as the Reserve Bank of Australia kept rates unchanged and posted a relatively dovish statement following its rate meeting”.
“However, AUD remains significantly overbought against USD, NZD and CAD according to our short-term financial models and we doubt that we are in for further strong performance in 2014 as we expect the RBA to be on hold for the rest of the year”.
Key Quotes
“It has been relatively quiet on the FX market so far this week. AUD trades nearly 0.5% lower against USD this morning as the Reserve Bank of Australia kept rates unchanged and posted a relatively dovish statement following its rate meeting”.
“However, AUD remains significantly overbought against USD, NZD and CAD according to our short-term financial models and we doubt that we are in for further strong performance in 2014 as we expect the RBA to be on hold for the rest of the year”.