RBA Heard ‘Loud and Clear’ as AUD/USD at 0.8950

The Australian dollar was near its lowest in over three months on Friday after the country’s central bank issued yet another call for a lower currency and caught markets in a mood to sell.

The Aussie was nursing its losses at $0.8938, having shed a cent overnight to as low as $0.8913. The next target for bears was the 2013 trough around $0.8848 touched back in August and a break there would take it to territory last visited in mid-2010.

The latest dive came after Reserve Bank of Australia (RBA) Governor Glenn Stevens reiterated that he would prefer to see the local dollar lower as a boost to trade-exposed sectors of the economy.

Reuters

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